Gold Prices Soar to Rs 1.7 Lakh in Ahmedabad Amid Festive Demand

Gold prices in Ahmedabad have reached an all-time high of Rs 1.7 lakh per 10g, driven by international gold prices and expectations around US interest rates.

The rise has been particularly notable ahead of the festive season, with Navratri, Dussehra, and Diwali typically seeing increased demand for gold jewelry.

However, consumers are becoming increasingly cautious due to the rising cost of gold, with young buyers opting for 9 carat and 14 carat jewelry instead.

Jewellers in Ahmedabad express concerns over demand in the coming months, citing lower inward remittances and household cash flow pressure as potential factors weighing on spending.