New Delhi: Gold prices surged by ₹3,200 per 10 grams in the Delhi bullion market on Friday. Gold with 24-carat purity has now reached ₹134,800 per 10 grams, its highest level ever. Previously, it was at ₹131,600 per 10 grams. Gold with 22-carat purity, or 99.5% purity, also reached ₹1,34,200.
Just before Dhanteras, gold prices in Delhi surged ₹3,200, reaching a record ₹134,800 per 10 grams. Driven by festive demand and global uncertainties, gold shines as silver sees a ₹7,000 drop. Experts advise cautious long-term investment planning.
Festive Demand Adds Sparkle
People traditionally buy gold and silver during the festive season, especially on Dhanteras and Diwali. This is considered auspicious. This tradition continues this year, and shopkeepers have stockpiled large quantities, leading to a sudden surge in demand and a surge in prices.
Gold prices surge again; Will rates hit Rs 1.30 Lakh per 10 Grams this festive season?
International factors also play a role
According to Jatin Trivedi, commodity expert at LKP Securities, not only festivals but also international economic conditions are behind the rise in gold prices. The potential US government shutdown, the decline in the dollar index, and uncertainty surrounding economic data have driven investors toward gold.
Gold has been considered a safe haven asset for centuries, and whenever there is uncertainty in the world, people increase their investments in it.
Silver prices fall sharply
While gold broke records, silver fell by ₹7,000 per kilogram. It is now priced at ₹177,000 per kilogram, down from ₹184,000 in the previous session. This decline is due to the weak position of silver in the international market.
Global Market Impact
International gold prices, which had previously reached a record high of $4,379.29 per ounce, are now trading slightly lower at $4,303.73 per ounce. International silver prices also stood at $53.43 per ounce, down from $54.48 previously.
Why do Indians buy gold on Dhanteras? The ancient belief that still shapes modern shopping
Is this the right time to invest or to be cautious?
Festivals have boosted gold demand, but international uncertainties have also contributed to this. This could be a beneficial time for those considering long-term investments, but prices are already high—so caution is necessary.