Diwali 2024: Gold prices see steep Rs 1,000 surge, breach Rs 82,000 per 10 grams-mark
Diwali 2024: Gold prices increased by Rs 1,000 and surpassed Rs 82,000 per 10 grammes for the first time in the national capital on Wednesday, driven by strong demand ahead of Diwali.
According to the All India Sarafa Association, the yellow metal of 99.9% purity rose by Rs 1,000 to a new height of Rs 82,400 for 10 grammes in Delhi. The price of 99.5% pure gold increased by Rs 1,000, reaching an all-time high of ₹82,000 per 10 grams in local markets.
In the previous session, gold with 99.9% and 99.5 percent purity closed at Rs 81,400 and Rs 81,000 per 10 grams, respectively.
Traders attributed the high increase in gold prices to massive buying by local jewellers to fulfil increased demand around Diwali, as well as a strong global trend due to the unsettled geopolitical climate ahead of the US presidential elections.
Gold prices have risen by 35% to Rs 82,400 per 10 grams from Rs 61,200 per 10 grams on October 29 last year.
Silver prices increased for the fifth day in a row, reaching Rs 1.01 lakh per kg from the previous closing of Rs 99,700.
Silver prices have increased by 36% to Rs 1,01,000 per kg from Rs 74,000 per kg on October 29 last year.
Gold contracts for December delivery on the Multi Commodity Exchange (MCX) increased by Rs 444, or 0.56%, to Rs 79,677 per 10 grammes.
- PTC NEWS
