This time the holy festival of Dhanteras is being celebrated with great enthusiasm across the country, but just before the beginning of the festive season, the prices of precious metals have definitely affected the budget of the common man. After the ups and downs of the last few days in the Indian bullion market, there has been a strong rise in the prices of gold and silver. Experts say that this jump in prices has been seen due to the trends of international markets and sudden increase in domestic demand, due to which buyers are now having to loosen their wallets a little more.
Latest prices of gold and silver before Dhanteras
According to the data of Indian Bullion Market, there has been a big jump in the prices of gold on this auspicious occasion of Dhanteras. The price of 24 carat gold in the market has increased to around Rs 1.45 lakh per 10 grams. At the same time, 22 carat gold, popular among investors and customers, is also trading at about Rs 1.32 lakh per 10 grams. If we talk about silver, then the white metal has also shown tremendous growth this time, surprising the investors. The price of 999 purity silver in the market has jumped to around Rs 1.90 lakh per kg. According to experts, in the last few sessions a huge difference of more than Rs 3200 has been recorded in the prices, due to which everyone is curious to know in which direction the market will move in this festive season.
Main reasons for this sudden rise in prices
Many global and local reasons are responsible for this rise in the prices of gold and silver. Due to geopolitical tensions on the international bullion market i.e. COMEX and the policies of the US Federal Reserve, investors’ inclination has once again increased towards gold and silver, which are considered safe investments. Additionally, during the festive season, the demand for coins, bars and jewelery suddenly increases in the local bullion markets. Due to this imbalance of demand and supply, prices remain high in the retail markets, which is directly impacting the pockets of common customers shopping on Dhanteras.
What things should you pay special attention to while shopping?
If you are also planning to buy gold or silver this Dhanteras, then you must keep in mind some special advice from market experts and consumer affairs experts. First of all, make sure that whatever jewelery or coin you are buying, it must have Hallmark mark on it, so that its purity can be completely guaranteed. Apart from this, there should be complete clarity on the bill regarding the original price of gold along with the 3 percent GST applicable on it and the making charges charged by the shopkeepers. Many times local jewelers charge different rates in the name of making charges, so finalize your purchase only after comparing the rates and purity of different shops.