Gold jumps 7% in 10 days to ₹1.52L per 10g
Business
Gold just jumped 7% in 10 days; now costing ₹1.52 lakh for 10gm, one of the sharpest short-term increases in recent months.
With prices possibly heading past ₹1.60 lakh soon, people are hurrying to buy for festivals like Rakshabandhan (August 28), even if it means adjusting their wish lists.
Buyers shift to lighter jewelry
Even with a likely 10% drop in how much gold is actually bought, jewelers expect higher revenues this festive season, thanks partly to NRIs shopping for weddings.
Many buyers are switching to lighter or lower-karat gold, silver pieces, and versatile jewelry like 18-karat or diamond designs.
The focus now? Sticking to budgets and getting the most value instead of going big on heavy gold.