Gold Becomes Cheaper In Chandigarh; Silver Prices Also Decline
A Great Opportunity For Festive Season Shopping
If you are planning to purchase gold or silver during the festive season, this could be a favorable time, as both metals have seen a significant drop in prices over the last three months. According to data provided by traders, the price of 24-carat gold which was approximately ₹1.61 lakh for 10 grams about three months ago has now fallen to around ₹1.44 lakh. This represents a decrease of about ₹17,000 per 10 grams. During the same period, the price of silver has also dropped from approximately ₹2.60 lakh per kilogram to around ₹2 lakh per kilogram a decline of about ₹60,000 per kilogram.
A Ray Of Hope For The Jewelry Market
This shift in pricing offers an opportunity for customers who have long been waiting for a decline in market rates. The more moderate prices of gold and silver during the festive season have brought a new ray of hope to the jewelry market. With price increases being less pronounced compared to last year, combined with the recent decline, jewelers are optimistic about better business prospects. Customer inquiries have begun to rise, and traders expect this to have a positive impact on sales during the upcoming Dhanteras festival.
Growing Trend Of Lightweight Jewelry
Alongside the rising trend of lightweight jewelry, silver gift items and decorative products are also attracting customers. According to traders, customers who had been hesitant to make purchases recently due to high prices are now finding some relief.
The drop in prices has made it easier for customers to plan their shopping budgets. Consequently, those looking to buy jewelry for the festive season may now feel encouraged to head to the market. Jewellers are also preparing to offer new designs and lightweight jewellery, keeping customer preferences in mind. Deep Krishna Chauhan, President of the Panchkula Jewellers Association, states that the decline in prices has led to an increase in consumer purchases during the festive season.
Gold Rates : 24-carat gold: 144,988 per 10 grams; 22-carat gold: 132,809 per 10 grams; 18-carat gold: 10,874 per gram.
Silver Rate : Silver: 201,816 per kilogram.
