Gold and Silver Prices Soar Ahead of Indian Wedding Season
The upcoming wedding season in India is causing gold and silver prices to rise steadily. With current rates near record highs, families are wondering if now is the right time to buy or wait for even higher prices later on.
A tradition of buying gold and silver as safe investments that can be passed down through generations drives demand during this time. Families plan their purchases around peak wedding dates (November-February and April-May), causing a surge in demand that pushes prices up. Jewelers stock up, ads increase, and buyers rush in, making it difficult for those who wait to get the best deal.
The current price of 24-carat gold is trading around ₹154,000 to ₹155,000 per 10 grams, while 22-carat gold is around ₹141,000 to ₹142,000 per 10 grams. Silver prices are also high, hovering between ₹235,000 and ₹250,000 per kg depending on the city and market.
Technical analysis suggests that both metals have seen sharp price movements over the past few weeks, with small day-to-day ups and downs but an overall upward trend this year. Prices vary slightly from city to city due to local taxes and making charges.