As Diwali draws closer, gold and silver prices are witnessing a steady upward trend. The rising prices are impacting both the bullion market and retail buyers alike.
According to bullion traders from Indore, this price surge is being driven by a mix of domestic demand and global uncertainties. On the international front, a weakening US dollar, escalating geopolitical tensions in the Middle East, and uncertainty around US interest rate decisions have pushed investors towards safe-haven assets like gold.
Meanwhile, in India, the festive and wedding seasons are in full swing, leading to a sharp increase in the demand for precious metals. This seasonal demand has further fuelled the rise in gold and silver prices. Traders believe that if the current trend continues, gold could become even more expensive as Diwali approaches.
In local markets, gold prices jumped by ₹300 to ₹500 per 10 grams today, while silver became costlier by up to ₹1,000 per kilogram.
Jewellers are advising customers to make their purchases soon, as prices are expected to rise further in the coming days due to strong demand and global market pressures.
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