Wedding Season Demand to Make Gold Shine Get Brighter

September 30 15:58 2016

yeNew Delhi, Friday, September 30 – The season of auspicious ceremonies is just here. Since time of Navratri is considered best to go for wedding and engagements, people buy gold in the forms coins, rings, necklace, chains, bangles, earrings and so on. Here is to mention that people often splurge on imperative occasions like marriage functions, making demand for gold and silver jewelry go up.

Keeping in mind this attitude of the buyers, the market analysts envisage a rise in demand of yellow metal. However, a slight possibility of observing unexpected less demand also looms thanks to high price. Here is to mention that selling of the yellow metal in the country wasn’t too high last year, skidding up to more than a few percents. But here is to mention that it is never easy for the consumers of different age groups to close the eyes to magnetism offered by both gold and silver as these being used to create ornaments that are considered women’s best friend. Even men like to invest in jewelries.

The purchasing of these precious metals is avoided sometimes during auspicious events in case the prices aren’t in affordable range and burn a big hole in their pockets. If truth is to be cited then investing money in yellow metal is not considered beneficial anymore owing to unpredictable rise and drop in the prices. Earlier, it was believed that selling gold at the time of emergency brings a lot of sums back to home. This is the reason why people used to buy gold items often. As a result of uncertainty in the rate of gold per 10 gram, the buyers hunted for other alternatives which could give better rewards in the future as compared to gold, which lost its sheen on more than a few times.

Tepid response is not good for the bullion market but this doesn’t last for longtime as well. To remind, it is once again described that gold rates set new records during late 2012 and early 2013. However, same momentum did not continue, resulting market to see a downturn in the later months. For the reason that many people are ready to enter in the institution of wedding in the coming days, gold may be sold in higher numbers. More to the point, since Durga Navratri festival is to start tomorrow and Dhanteras to fall during the month end, a surge in gold buying is on the cards. Reasonable price structure will be fundamental to boost customers’ morale to get beauty enhancing jewelries. There are people who do not thinking too much about the budget thanks to their strong purchasing power, gold may continue to glitter in the final quarter of the year.