In recent days, gold prices have been steady on the upward trend, coinciding with the increased demand for the ongoing wedding season. In fact, it is the jewelry made of the precious metal, which has shown a huge variation in the value of the market. The market activity is at a standstill during the weekends, but this time around, the gold price is expected to be on an upward trend after the past few days.
What Driving the Gold Rush
Several factors are fueling this rise in gold prices: Wedding Season: India is a country where the wedding season is when gold demand peaks. Gold jewelry has a huge cultural and emotional value, hence an integral part of any wedding ceremony. Investment Haven: Gold is perceived as a safe haven asset in times of economic uncertainty. Inflationary Pressures: Rising inflation can erode the purchasing power of currency, making gold an attractive hedge against inflation.
City-Wise Gold Prices
Here’s a glimpse into the current gold prices across major Indian cities:
Delhi: 24-carat gold: Rs 81,260/10 grams; 22-carat gold: Rs 74,500/10 grams
Kolkata: 24-carat gold: Rs 81,110/10 grams; 22-carat gold: Rs 74,350/10 grams
Mumbai: 24-carat gold: Rs 81,110/10 grams; 22-carat gold: Rs 74,350/10 grams
Chennai: 24-carat gold: Rs 81,110/10 grams; 22-carat gold: Rs 74,350/10 grams
Jaipur: 24-carat gold: Rs 79,800/10 grams; 22-carat gold: Rs 74,500/10 grams
Chandigarh: 24-carat gold: Rs 79,800/10 grams; 22-carat gold: Rs 74,500/10 grams
Lucknow: 24-carat gold: Rs 81,260/10 grams; 22-carat gold: Rs 74,500/10 grams
Hyderabad: 24-carat gold: Rs 81,110/10 grams; 22-carat gold: Rs 74,350/10 grams
Bhopal: 24-carat gold: Rs 81,160/10 grams; 22-carat gold: Rs 74,400/10 grams
Ahmedabad: 24-carat gold: Rs 81,160/10 grams; 22-carat gold: Rs 74,400/10 grams
Note: These prices are indicative and may vary slightly across different jewelers within the same city. It is always advisable to confirm the latest gold prices with your local jeweler before making a purchase.
Looking Ahead
With the wedding season in full swing and the global economic landscape evolving, it remains to be seen how gold prices will trend in the coming weeks and months. Investors and consumers alike are closely monitoring the market for any significant shifts.
Disclaimer: This article provides general information on gold prices and should not be considered financial advice.
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