Commodities
Gold Prices in India Decline Ahead of Ganesh Chaturthi Festival
The gold price in India has decreased, with 24K gold currently trading at Rs 15,317 per gram, down from Rs 15,409 on September 14. The prices of 22K and 18K gold have also fallen, standing at Rs 14,040 per gram and Rs 11,488 per gram respectively.
The drop in gold prices comes as India prepares for the Ganesh Chaturthi festival season, with Mr. Kaushlendra Sinha, CEO of IAGES, noting that demand for gold is expected to remain resilient despite higher prices.
According to Sinha, consumers may adopt a more measured approach to spending on gold this season, opting for smaller-ticket purchases and lightweight jewelry due to elevated prices.