Gold Prices Expected to Rise 15-20% Amid Festive Season Demand
Saiyam Mehra, Director of Unique Chains, expects gold prices to rise by 15-20% over the next two to three months due to increased demand from the upcoming festive and wedding season. He sees ₹1.54 lakh per 10 grams on MCX as a good buying level.
Although prices may temporarily fall by ₹500-700, Mehra believes that in the coming 15 days to 30 days, gold rates will slowly increase. The recovery is already visible in jewellery orders, with manufacturers receiving a large volume of orders over the past 15 days.
Consumers are adjusting to higher gold prices by buying lighter and lower-carat jewellery, such as 9-carat, 14-carat, and 18-carat pieces. Retailers are also seeing strong demand for diamonds and silver, while jewellery exchanges are gaining momentum as consumers trade old jewellery for new designs.