BHOPAL: ellow metal lovers will have to loosen their purse strings in the coming festival season as gold price is expected to zoom. On Tuesday, gold price was Rs 30,050 ( 23 carat). According to traders, gold price may touch Rs 35,000 for 10 gram in coming Dhanteras and Diwali.
Traders said the precious metal is in demand for the ongoing festivals and marriage season while silver rose on industrial units and coin makers demand. They said amid firming global trend gold traded higher and recent plunge also increased physical demand.
New Market Jewellers Association president Mukesh Goel said, ” The price of gold is likely to soar in bullion market in the coming festival season.
Gold prices jumped on increased buying by retail customers for marriage and festival season amid a firming global trend.” ” Gold purchasing is believed to be auspicious in festival season. So this may be reason behind increase in price,” he said.