Gold Price: There is a possibility of a fall in gold prices after the wedding season, but this is not completely certain and depends on many factors. This is the first time that even after the wedding season has started, the price of gold is continuously falling.
Let us tell you that there was a decline in the stock market around Diwali, but the price of gold was continuously increasing. On 29th October, the day of Diwali, the price of 24 carat 10 gram gold in Delhi was Rs 79963, which reached Rs 77,820 on the previous day i.e. 26th November. Whereas the wedding season will continue for the next two months.
Situation like share market?
The big difference between gold and the stock market is that gold is generally considered a “safe haven”. When the stock market is unstable or falling, investors turn to gold. Therefore, gold prices rarely suffer sudden and unexpected declines like the stock market, but gold prices are influenced by things like global and domestic economic conditions, the strength of the dollar, interest rates, and investor sentiment.
Why did the price of gold decrease during the wedding season?
In our country, gold jewelery is given as a gift at marriages. Because of this, the demand for gold usually increases during the wedding season, but this time the price of gold has decreased in the last several days during the wedding season. Demand and supply could be a reason behind this. Actually, at this time the availability of gold in the market may be more than the demand, due to which the price of gold is decreasing during the wedding season.
Can the price decrease after the wedding season?
We have already told you that the price of gold cannot fall like the stock market, but it is definitely possible that after the wedding season, the price of gold may go down a little. There is no need to worry for those people who have invested at the peak price of gold, because the price of gold will definitely increase in the coming years.