Gold and Silver Price – The Indian bullion markets have been experiencing volatile prices for both gold and silver for quite some time. Gold and silver prices saw record-breaking increases during the festive season. Now, during the wedding season, gold and silver prices have softened somewhat. Global political turmoil was believed to be the reason behind the sudden increase in gold and silver prices.
Indian consumers are also very concerned about gold and silver prices. It is expected that the wedding season that begins after December will increase demand for jewellery, leading to FOMO. Ajay Kedia, Director of Kedia Advisors, shared high hopes for gold and silver prices. Kedia said the initial price decline was expected, but the subsequent increase was due to international political pressure and supply constraints.
Ajay Kedia shared critical information.
Ajay Kedia shared some vital information during an interview with NDTV Profit. He explained that gold and silver prices had suddenly fallen, only to rebound amid global political pressure and tensions. Silver production also declined due to demand from various sectors.
Kedia also notes that sentiment in India appears to play a significant role. The rally seen from August to the end of October was driven by strong industrial and ETF demand, as well as auspicious purchases during festivals like Dhanteras. He added, “The Indian population is price-sensitive, but our demand for gold and silver is emotional.”
Kedia’s Prediction
According to Ajay Kedia, the current surge in demand is likely to subside. He believes that demand is unlikely to continue in November, but the situation will return to normal. However, the wedding season may cause a temporary increase, which is expected to stabilise prices. He added that after December, the wedding season will definitely increase gold and silver prices, which could also lead to a jump in prices.