Gold Price:-  Gold is currently selling at record highs in Indian bullion markets, leaving customers sweating. A few days ago, it seemed that gold prices might fall during the festive season, but that doesn’t seem to be the case yet. After some relief during Pitru Paksha, the situation has worsened again.

Gold prices have increased by up to 55 per cent in the past year. Despite this, people are still buying gold in droves. According to some experts, the prospect of gold prices falling in the coming days is very slim. In South India, people are buying 22-carat gold in large quantities. Due to inflation, sales of 18-carat gold have also seen an increase. What does the report say about prices?

Prices are unlikely to fall

There is considerable confusion about whether gold prices will fall in the Indian bullion markets. Ajay Chawla, CEO of Tanishq, India’s leading jewellery chain, shared important information in an ET report. He said that after four months of low prices, there has been an increase in demand for gold and gold jewellery in the last two weeks.

Customers have now realised that high prices are not going to decrease anytime soon. Chawla explained that customers have also started buying gold, as there is no scope for a price drop. Furthermore, after a gap of almost four months, there has been a significant increase in purchasing.

Increased Demand for 18-Carat Gold

Over the past month, gold prices have increased by 13.44 per cent. According to an IBJA report, on Tuesday, the price of gold was recorded at Rs. 1,19,967 per 10 grams. With 3 per cent GST, consumers will have to spend Rs. 1,23,567 for 10 grams of gold. Chawla told ET that Tanishq is also seeing good demand for 18-carat jewellery among customers. Consumers in the South still prefer 22-carat jewellery.

Exchange and Programs Also Valuable

According to Tanishq, it is also betting on an exchange program for old gold. Chawla explained that approximately 25,000 tons of gold are lying idle in family lockers. We are working to remove some of this to reduce dependence.

High US tariffs are creating problems. Over the past few years, more than 3 million Indians have participated in Tanishq’s gold exchange program.