As the auspicious timing of Dhanteras extends until 2:00 pm today, customers have the opportunity to purchase 22-carat gold at a reduced price of ₹5,599 per gram (excluding taxes), given its moderate decline. Larger quantities, such as 8 grams and 10 grams, were priced at ₹44,792 and ₹55,990 respectively, while the cost for 100 grams of 22-carat gold stood at ₹5,59,900. In contrast, 24-carat gold was valued at ₹6,108 per gram.
These price fluctuations are influenced by various factors, with input from reputable jewelers being pivotal. Global gold demand, currency values in various nations, prevailing interest rates, and government regulations related to gold trade all contribute to these fluctuations. Additionally, global events, including the state of the global economy and the strength of the US dollar in relation to other currencies, exert their influence on commodity prices within the Indian market.
The ‘Muhurat’ of Dhanteras holds cultural and religious significance, encouraging people to make purchases, during this auspicious time. Jewelers often offer special deals and discounts during this period to attract customers. The reduced price of 22-carat during the ‘Muhurat’ provides an attractive proposition for buyers looking to make festive purchases.
It’s essential for buyers to stay informed about these market dynamics to make informed decisions. Tracking commodity prices, understanding the factors influencing them, and assessing the credibility of jewelers can contribute to making wise investment choices. As the festival season progresses, these fluctuations in gold prices are likely to continue, making it imperative for buyers to remain vigilant and seize favorable opportunities for their purchases.
Read More: Dhanteras 2023: Gold, Silver Prices Rebound, A Buying Opportunity?
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