Stay updated with the latest - Click here to follow us on Instagram
© The Indian Express Pvt Ltd
Tags:
Journalism of Courage
Gold price in Chandigarh touched Rs 1.03 lakh per 10 gram, the highest ever and almost double of what it was in Diwali last year, Wednesday, making the yellow metal go out of bounds for most people.
Jewellers in the Tricity predict that the gold price will soar further this Diwali, and people are rushing to buy gold now, even during Shradh, which is considered inauspicious by Hindus. Jewellers also predict low sales on Dhanteras.
Rajeev Sahdev, president of the Chandigarh Jewellers Association, told The Indian Express that the gold price could soar up to Rs 1.20 lakh by Diwali. Last Diwali, the gold price was around Rs 80,000, and it was around Rs 55,000 during the festival in 2023, he added.
“This is the scenario when Shradh is going on. It’s just day three. And by Diwali, we expect prices to go up by Rs 15,000 to 20,000. Certainly not many takers will come forward on Dhanteras as people would have already purchased gold,” Sahdev said.
“If not 10 grams, some will try buying a small quantity, like a 5-gram gold coin. The prices will make it difficult further,” he added.
The price of silver is Rs 1.30 lakh per kg.
According to a jeweller, some people are booking gold items before Dhanteras, suggesting a further rise in prices.
Deep Krishan Chauhan, president of the Panchkula Jewellers Association, stated that many people were purchasing gold regardless of the Shradh period.
“Usually, no shopping is done during Shradh. But people now purchase gold, foreseeing higher prices ahead. While some of them are making bookings,” Chauhan said.
Diwali is on October 20.
Stay updated with the latest - Click here to follow us on Instagram
