Ahmedabad: Do you plan to buy gold during this celebration season? Be prepared to get out extra because the price of gold rally in front runs until the season, with good sales expected.
Supported by strong demand and tracking international rally, gold prices have increased by Rs 1,400 per 10g in ten days.
The price of yellow metal prices rose from Rs 47,600 on September 30 to Rs 49,000 on Wednesday.
Haresh Acharya, National Director, Bullion Association and Indian Jewelry (IBJA), said, “The price of gold has rallyed for the past three days in the international market.
In addition, Rupees depreciated against the US dollar because the price of gold was effective in the Indian market high.
Demand has also been shows an increase in the domestic market ahead of the festival season, which can also push the price up.
However, we expect the price of gold to remain in the current range and do not expect a surge in the near and clear time, people have received this price and make a purchase.
“Jewelry requests have been Increases well since Navratri and is expected to grow, because of Muhurats such as Dussehra, Pushya Nakshatra, Dhanteras, Diwali and New Year.
Manoj Soni, Ahmedabad based jewelry, said, “For the past two months, the demand for gold jewelry has soared.
Because of the pandemic, many marriages were postponed last year and were suspended until this year, which drives jewelry demand.
At least 50% of purchases are carried out in exchange for gold Old and the rest through cash, cards and check.
“” The ratio of people who buy jewelry through exchange is usually 20%.
However, after the pandemic struck, many people delayed marriage and similar functions buy a gold bar as an investment and and now exchanged them for jewelry , “said Soni.