Aadi Perukku Festival Triggers Gold Price Surge Amidst Global Economic Uncertainties

Gold prices have been fluctuating over the past few weeks but remain relatively moderate overall. Last week, the price of 22-carat gold decreased by ₹640 per sovereign, while silver prices dropped by ₹5 per gram at the beginning of the week before stabilizing at ₹235 per gram for six consecutive days.

However, on Monday (August 3), coinciding with the Aadi Perukku festival in Tamil Nadu, gold prices experienced a fresh increase. The price of 22-carat gold rose by ₹240 per sovereign to ₹1,06,000, while the per-gram price increased by ₹30 to ₹13,250.

Financial experts recommend that investors avoid making decisions based on daily price movements and instead focus on long-term investment strategies. They suggest accumulating gold gradually through systematic purchases rather than trying to predict short-term highs and lows.