Gold and silver prices are setting new records even before Karwa Chauth. In Bhilwara, gold and silver prices have seen a sharp increase due to safe investment in foreign markets and the depreciation of the Indian Rupee. According to the Sarafa Association, on Wednesday, the price of 24-carat gold in Bhilwara increased by ₹2000, reaching a high of ₹1,26,300 per 10 grams.
Similarly, the price of silver also reached a new high of ₹1,57,500 per kilogram (including all taxes), an increase of ₹5000. Traders state that the fall in the Rupee against the US Dollar has driven up gold and silver prices.
So far in 2025, gold has increased by ₹51,350 per ten grams, or 65.04 per cent. On December 31, 2024, the price of gold was ₹78,950 per 10 grams. Likewise, the price of silver has also increased by ₹67,700, or 75.47 per cent, this year. On December 31, 2024, the price of silver was ₹89,700 per kilogram.
Gold and Silver Being Bought by Breaking Fixed Deposits
Jewellery traders report that a perception has formed among the general public that gold and silver prices will rise further. Consequently, customers are breaking their fixed deposits to invest in gold and silver. Such customers are arriving in large numbers daily. Additionally, people are also withdrawing invested amounts from the stock market and reinvesting them in gold and silver. It is anticipated that gold may surpass ₹1.40 lakh and silver ₹1.75 lakh even before Diwali.
City Residents to Spend Crores by December
According to bank reports, consumers will spend crores of rupees from the festive season, which began in October, through November and until the end of December. The report estimates an increase in spending due to the significant boost to consumer sentiment from a reduction in GST rates. Key sectors where a large portion of this spending will be directed, besides gold and silver, include clothing, weddings, electronics, and automobiles.
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