Gold and silver rise as India heads into festive season
Gold and silver prices are on the rise just as India heads into its festive season.
On Thursday, gold futures were trading at ₹1.49 lakh per 10gm (up 0.51%) and silver was trading at ₹2.24 lakh per kilogram (up 0.40%) on the MCX.
These moves come even as global factors like high US Treasury yields and a strong US dollar keep things unpredictable.
Festive and wedding demand to rise
With Dhanteras, Diwali, and wedding season around the corner, experts expect more people to buy, though higher prices might have some choosing lighter jewelry or swapping old pieces for new ones.
Colin Shah, MD, Kama Jewelry, notes that wedding spending alone can run between ₹1.5 to 3 lakh per event.
Silver remains volatile too, especially with rupee fluctuations, but festive traditions are likely to keep demand strong this year.