As the Dussehra-Diwali season approaches, along with the upcoming wedding festivities, gold buyers are in for a treat.
Jewelers across the country are offering incredible deals and discounts, making it the perfect time to invest in the glittering metal.
Read on to find out if gold prices are likely to rise or fall during the festive season and what preparations jewelers have in store.
Bumper Offers Await Gold Buyers
Jewelers Gear Up for Festive Extravaganza If you’re considering buying gold this Dussehra-Diwali or wedding season, you’re in luck.
This festive period promises a golden opportunity to make your purchase, as jewelers are offering an array of bumper offers and discounts.
Expert Insights on Gold Prices
Dinesh Jain Predicts a Sparkling Festive Season Dinesh Jain, Director of the All India Gems and Jewelry (Domestic) Council, anticipates that this year’s festive season will be one for the record books.
Sales are expected to surge by 35%, and jewelers are pulling out all the stops with enticing offers. They’ve been diligently working on new designs and stock for the past three months.
Price Expectations During the Festive Season
Will Gold Prices Soar or Stay Stable? Will gold prices see a spike during the festive season? According to Jain, while there may be a slight increase in gold prices in the coming days, prices are expected to remain relatively stable throughout the festival.
This, he suggests, presents an excellent opportunity for shoppers, as rising gold prices often lead to increased exchange rates.
Hallmarking and Industry Support
Adoption of New Designs and Hallmarked Gold Regarding hallmarking, Jain highlights that consumers are increasingly opting for newly designed and hallmarked gold over older pieces.
The industry stands in support of the government’s hallmarking initiatives and has made recommendations for removing the date option in hallmarking, as well as expanding the number of hallmarking centers.
Current Gold Prices
Snapshot of Gold Rates by IBJA For those looking to get a sense of current gold prices, the Indian Bullion and Jewellers Association (IBJA) reported the following rates on Wednesday:
- 999 purity gold: Rs 57,800 per ten grams
- 995 purity gold: Rs 57,628 per ten grams
- 916 purity gold: Rs 53,000 per ten grams
- 750 purity gold: Rs 43,395 per ten grams
- 585 purity gold: Rs 33,848 per ten grams
It’s evident that the upcoming festive season offers a golden opportunity for buyers, with jewelers rolling out enticing offers and discounts, making this the perfect time to invest in the timeless metal.