Trump gave this gift to Indians as soon as he won the election, for the first time something like this will happen during the wedding season…

New Delhi: With Donald Trump's victory assured in the US Presidential elections, Indian consumers may get an opportunity in the gold market. Because gold prices have fallen with the beginning of the wedding season. Due to the US election results, gold prices on Multi Commodity Exchange (MCX) have fallen by 6 percent, which has fallen to Rs 4,750 per 10 grams since November 4. This fluctuation in prices has probably attracted the attention of many gold buyers. Especially when India is entering its vibrant wedding season. A time when the demand for gold generally increases. For Indian consumers, gold is not just an asset but a cultural commodity, deeply associated with weddings, festivals and as a protection against economic uncertainty.

With the fall in gold prices, people who have weddings coming up in their families are eagerly waiting for the occasion. However, according to ET report, Indian consumers are buying heavy bridal gold for weddings taking place in December. Are avoiding buying jewellery. They hope that prices will fall further. According to jewellers, many people are waiting for another cut in gold prices before making purchases. Jewelers are also avoiding replenishing the stock, as they may incur losses if prices fall after purchasing gold.

What happened to gold prices? There has been a significant rise in gold prices in 2024. By October, it has reached a record high of 39 in dollar terms. As data from the World Gold Council shows, this is the record-breaking year for gold since 1979. However, Trump's victory has brought new dynamics to the fore. Historically, a stronger dollar has often led to lower gold prices.

A golden opportunity with the fall in gold prices! The fall in gold prices could not have come at a better time for Indian consumers, as the wedding season has started in the country. This season started with Dev Utha Ekadashi on 12th November and will continue till 16th December. Generally, the demand for gold increases during this period as families buy jewelery for wedding ceremonies. With prices showing signs of softening, those who were thinking of buying gold are now seeing a window of opportunity.

Post Views: 35