look news india
New Delhi, 12 October (Hindustan Reporter). After the weakness of Navratri, the rise in the bullion market on the day of Dussehra has made investors happy. Purchasing gold on the day of Vijayadashami is traditionally considered auspicious. After today's rise, bullion market experts are predicting a generally bullish trend in the market. It is believed that this bullion market boom may continue till the coming wedding season.
Market experts believe that the demand for gold and silver usually increases during the festive season. This year, the festival of Navratri has definitely been an exception, but there is every possibility of a rise in the bullion market in the coming days. After Dussehra, festivals like Karva Chauth, Dhanteras and Diwali are coming when gold and silver are traditionally purchased. This is the reason why the demand for gold and silver increases during the festival season, due to which the prices of these shiny metals also increase.
In the domestic bullion market, gold is trading near all-time high level. Similarly, silver has also reached its highest level. In Delhi, silver is trading after crossing the level of Rs 96 thousand per kg, while in Chennai its price has reached the highest level of Rs 1,02,100 per kg in the entire country.
According to bullion market expert Mayank Mohan, the wedding season will start in the country after Diwali. In such a situation, the consumption of gold and silver in the domestic market will increase comparatively. This will naturally increase their demand and their price will also increase. Along with this, given the geo-political situation at the global level, there is a possibility of continuous increase in the demand for gold and silver. If the tension in the Middle East increases further, then there is every possibility of a rise in the prices of gold and silver in the international market.
Along with this, even if America's central bank, the US Federal Reserve cuts interest rates further this year, there may be a rise in the prices of gold and silver. According to Mayank Mohan, if the price of gold and silver increases in the international market, it will affect the Indian market also, because more than 80 percent of the entire gold and silver business in India is based on imports from the international market. It depends.