Gold and silver prices in India are expected to rise during the Dhanteras and Diwali festivities, diverging from the typical pattern of declining prices following Navratri. This potential increase is attributed to ongoing global economic uncertainties and geopolitical tensions, according to representatives from the jewellery market.
Over the weekend, gold was priced at ₹1,50,700 per 10 grams, while silver stood at ₹2,18,000 per kilogram. These prices reflect significant fluctuations throughout the year, with gold starting at ₹1,37,120 per 10 grams in January and peaking at ₹1,67,275 in March. Similarly, silver prices began at ₹2,38,000 per kilogram and climbed to ₹2,95,000 during the same period.
Market representatives suggest that several factors could support rising bullion prices in the coming weeks. These include global economic uncertainties, geopolitical tensions, and continued purchases by central banks. Additionally, concerns about inflation, economic slowdown, and volatile financial markets have prompted investors to view gold as a safe-haven asset.
Typically, gold and silver prices peak around Navratri and decline during Dhanteras. However, jewellers indicate that strong festive demand combined with developments in international markets could keep prices elevated or push them higher even after Diwali.
Despite these projections, bullion prices remain sensitive to global market conditions, currency movements, and investor demand. Buyers are advised to monitor price fluctuations closely before making purchasing decisions. This vigilance could help them capitalize on favorable pricing amid the fluctuating market dynamics.