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Yellow Metal Perks Up Thanks to Massive Demand

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Yellow Metal Perks Up Thanks to Massive Demand

October 13
16:06 2014

gold futuresNew Delhi, Monday, October 13 – The yellow metal regained a little bit of shine today as the masses placed huge demand for gold in view of the fact that festive time is nearing. Here is to mention that less than 10 days remain for auspicious occasions of Dhanteras and Diwali to fall, making ornament makers and traders to purchase the same and live up to customers’ requirement.

On the first working day of this new week, cost of the precious metal took a turn for the better to be at the mark of INR 27,600 per ten gm in Delhi. It soared by INR 200. At the same time, the white metal also logged an increase to be at INR 39,250 per kilogram, ameliorated by INR 450.

If latest reports from market analysts are to be trusted then the rising scenario might last for a long time. However, signs of slighter plunge also remain on the cards prior to the upcoming festivals. The increase in rates at the present is also due to augment in demand for valuable metals during wedding season. Since huge orders are placed for designer jewelries, cost automatically goes up at this stage. ‘Buyers may have to shell out a lion’s share of their money to get heavy ornaments and coins if any purchasing is done  now. Prices are probable to come down to a great extent only when marriage period and festivals are over’, they added further.

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