New Delhi: People across India have begun celebrating the five-day Diwali festival, even as gold prices continue to hover at all-time highs. The yellow metal reached record levels at the start of October, driven by global economic uncertainty and increased investor demand for safe-haven assets.
Surge in gold prices
Market analysts attribute the spike to concerns over a potential US government shutdown and fluctuating global economic indicators. These factors have boosted the appeal of gold among investors and households alike, particularly during the festive season when jewellery purchases traditionally rise.
According to industry data, prices have continued to climb across major Indian cities, reflecting a steady upward trend in both domestic and international bullion markets.
Festive buying despite high prices
Despite record-high rates, jewellers report strong festive demand, with consumers viewing gold as both a cultural essential and a stable investment. Many buyers are opting for lightweight ornaments and gold coins, balancing tradition with affordability.
Retailers anticipate brisk business through Dhanteras, which marks the most auspicious day for gold purchase