Pune: Gold Demand High During Diwali, Prices Expected to Reach Rs 2 Lakh in Five Years
Pune, 5th November 2024: Despite a significant rise in gold prices over the past six months, Diwali saw a surge in gold purchases. Whether for festivals, weddings, or investment, people continued to buy gold enthusiastically. This year, the bullion market remained strong, with a notable increase in turnover.
Jewelry shops experienced heavy footfall during Diwali, driven by the availability of new, trendy designs and demand for wedding and festive shopping. While the quantity of gold sold was down by 10-15% compared to last year, the overall turnover increased considerably due to higher prices.
Experts predict that the price of gold per 10 grams may cross ₹1 lakh within the next one to one-and-a-half years, given the ongoing wars in the world. As global tensions escalate, more investors are turning to gold, further driving up its value. Market experts forecast that gold prices could rise from ₹1.68 lakh to ₹2 lakh over the next five years.
