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Gold prices hold steady on Janmashtami (24K: ₹10,138/g in Delhi). Silver at ₹116.20/g. Festive demand rises as investors see safe-haven appeal amid stock market volatility. Similar rates in Lucknow; Ahmedabad slightly cheaper. Experts suggest cautious buying for long-term gains during this auspicious period.
Stability in gold and silver prices
New Delhi: This year, on the auspicious occasion of Janmashtami, gold and silver prices are stable in the country's major cities—Delhi, Lucknow, and Ahmedabad. This festive season is providing a good opportunity for investors and buyers, as gold and silver not only have religious significance but are also considered safe investments from an economic point of view.
Gold and silver prices in Delhi
Today in Delhi, the price of 24-carat gold is ₹10,138 per gram, 22-carat gold is ₹9,294 per gram, and 18-carat gold (999 gold) is being sold at ₹7,604 per gram. At the same time, the price of silver is ₹116.20 per gram or ₹116,200 per kilogram. A major reason for this stability is the uncertainty going on in the stock market for some time, due to which investors are looking at gold as a safe option.
Similar trends in Lucknow and Ahmedabad too
Gold and silver prices in Lucknow are similar to Delhi, while slightly lower prices have been recorded in Ahmedabad. This major city of Gujarat has been a leader in gold trade, and shopping here has special significance on festivals like Janmashtami. 24-carat gold is available in Ahmedabad at ₹10,128 per gram, 22-carat at ₹9,284 per gram, and 18-carat at ₹7,596 per gram.
Is this the right time to buy gold?
Buying gold and silver on Janmashtami is considered auspicious, and this time, due to stability in prices, this time can also be good for investment. Experts believe that since gold appreciates in value in the long term, buying it during the festive season can be beneficial. However, buyers are advised to be cautious given the possibility of volatility in the market.
The stability in gold and silver prices on this Janmashtami has created a favorable environment for buyers. Whether for religious wishes or for investment purposes, this time can be suitable to buy gold. However, any big investment should be made only after keeping an eye on the market conditions.
