Gold Rate Update: The prices of gold and silver are continuously increasing in the bullion market. The rate of 24-carat gold has crossed Rs 1 lakh. There is a continuous jump in the price of gold during festivals and weddings. The price of 24 carat gold is Rs 1,02,590 per 10 grams, while the cost of 22 carat gold is Rs 94,050. The biggest question on people’s minds regarding the rising gold price is: How long will the price of gold continue to rise? People are eager to know whether there is any chance of a fall in the price of gold or not.
What do experts say?
According to experts, there will be a very slight decrease in the price of gold. This time, there is less hope of gold becoming cheaper in the festive season. Those who buy gold on Akshaya Tritiya, Dhanteras, and Diwali are unlikely to see a significant reduction in gold prices. However, better profits are possible from long-term investment. Gold ETF and digital gold options are better options.
If you plan to buy gold, keep an eye on prices before the festive season, as they may remain stable or increase slightly due to increased demand. It may be better to wait for 6-8 months, as experts estimate that prices may fall to Rs 80,000-85,000 during this period. For investment, consider options like Gold ETF or Sovereign Gold Bond, which are less affected by price fluctuations.
The demand for gold increases significantly during the festive and wedding season in India. Increasing gold production at the global level will increase the supply and reduce prices.