Gold and Silver Prices Drop: A Golden Opportunity for Buyers as Wedding Season Demand Rises

Gold And Silver Price: A significant decline has been recorded in gold and silver prices after Diwali and Chhath Puja, bringing a smile back to the faces of customers.

Gold And Silver Price: The decline in gold and silver prices has created a great opportunity for buyers. With the wedding season approaching, the demand for these precious metals is expected to increase. In the bullion market, the price of gold has dropped by 477 rupees to 78,390 rupees per 10 grams, while silver has also seen a decline of 1039 rupees, with the current price being 94,444 rupees per kilogram.

Impact on Domestic and International Markets

In the international market, gold prices have also seen a decline. The December contract on COMEX is at 2,747 dollars per ounce. Experts believe that the upcoming US presidential election could lead to market volatility, which may cause fluctuations in gold and silver prices.

Market Analysis

After the festive season, the Indian market sees a surge in gold demand, especially during the wedding season. The demand for jewellery and coins increases significantly. According to the Lucknow Sarafa Association, the price of 24-carat gold is 81,100 rupees, 22-carat is 78,100 rupees, and 18-carat is 71,700 rupees per 10 grams.

Potential Risks and Advice

Experts believe that the current decline in gold prices could be an opportune time for investment, but the US presidential election could lead to market volatility. Therefore, buyers should exercise caution before making a purchase.