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Yellow Metal Likely to Be Up on Account of Festive Season Demand

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Yellow Metal Likely to Be Up on Account of Festive Season Demand

October 09
16:27 2014

gold jewlryNew Delhi, Thursday, October 9 – Gold, one of the metals that fetches mob’s attention thanks to shine and prettiness, is probable to be vastly demanded given festival period and marriage season already started in the country. From Navratri till Diwali, together with auspicious dates for wedding ceremonies, demand for both gold and silver soars. The moment general public and industrial units begin to place order in bulk or in parts to the jewelers, direct impact is seen in the bullion market.

As of today, the cost of precious metal ameliorated by 0.72% to be beyond INR 27,000 mark per 10 gm. In view of the fact that it is expected to be required further, the augment is supposed to be witnessed in the upcoming days. ‘Since Dhanteras is to fall after a couple of weeks, rise scenario will continue. However, probability of observing minor fall is also on the cards and that is why traders and buyers can’t take eyes of this fact’, said a market expert. At the same time, massive increase is anticipated too as a number of couples tie the wedding knot in the final quarter of every year. Things are going to be no different this time which will make gold to surge in the near future, he added further.

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