Gold Price: Gold can go up to 53 thousand on Dhanteras and Diwali, there will be a huge jump in the season of weddings

Dhanteras 2022 Gold Shopping : The festive season is going on across the country. On these festivals, the general public makes special purchases of gold and silver. If you are planning to buy gold on Dhanteras or Diwali (Diwali 2022), then this news can prove to be of your use. Let us tell you that this Diwali the price of gold can go up to Rs 53000 per 10 grams. The price of the same silver can reach Rs 63000 per kg.

The country got less gold than it needed

There has been a lot of jump in gold prices during these festive seasons. The reason for this is also the supply of gold (Gold Price Today). There has been a huge cut in the gold supplied by banks to India. That is, despite the increase in demand during the festive season, India is getting less gold than it needs.

These will be the price of gold and silver

According to experts, the short-term sentiment on gold is very strong. By this Diwali, gold can go up to Rs 53000 per gram. Silver prices can reach Rs 63000 per kg by Diwali. By the end of the same year, silver can see a price of up to Rs 65000 per kg.
Let us tell you that gold in the international market can show a price of $ 1720 to $ 1750 this month. Whereas silver will soon see a rate of $ 20 to $ 21.

cut is the big reason

It is known that countries like China and Turkey are paying a higher price than the rate at which India is buying gold. Therefore, due to earning more profits, banks have increased the supply of gold to China and Turkey. Last year, gold was bought by Indian consumers at a premium of $4 an ounce, which has now come down to a premium of $1 to $2.

Gold imports down 30%

According to sources, China’s top consumers are offering a premium of $ 20 to 45 compared to India. At the same time, Turkey is offering a premium of $ 80. Due to this, there has been a decline of 30 percent in gold imports in India. At the same time, Turkey’s gold imports have increased by 543 percent and gold reaching China via Hong Kong has seen an increase of 40 percent in August.

Gold reserve reduced

This year India consumers have 10 percent less gold as compared to last year. Every year at this time a few tonnes of gold were kept every year for Diwali and Dhanteras. But this time it has remained in kilos only. If the situation does not improve, then gold prices may skyrocket. Dussehra, Dhanteras and Diwali After that the season of weddings will start.

read this also-

Gold Supply: Gold crisis will be seen on the occasion of festivals in India and the price will increase! What is the relation between China and Turkey – know

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