The wedding season is in full swing across the country and meanwhile, there has been a slight softening in gold prices. After continuously rising prices for a long time, there has been a slight decline in gold prices. This is a relief news for investors and customers because gold is currently trading cheap again. At the same time, there has been no change in the prices of silver and the prices have remained stable.

Price of 24 carat gold in Indian bullion market 1,23,635 Rs per 10 grams. In contrast, no fluctuations were seen in the prices of silver and it remained almost 1,64,000 It remains at the level of Rs per kg.

Experts say that this decline has come due to weak signals from international markets. There is pressure on gold due to stability in the economic data of America and Europe and slight strength in the dollar index. At the same time, due to stability in crude oil prices and uncertainty regarding Federal Reserve’s interest rates, investors have booked partial profits in gold.

According to market analysts, the demand for gold remains strong during the wedding season. The rush of customers is increasing in bullion markets and jewelery showrooms across the country, especially in North India, Maharashtra and Gujarat. However, due to slight decline in prices, customers will now get some relief in shopping. Experts believe that this decline is temporary and a rise in gold prices may be seen again in the coming weeks.

Talking about the international market, there has been a slight decline in gold prices there too. Gold futures on COMEX are trading down by $2 at around $2,360 an ounce, while silver remains stable at $28 an ounce. The strength of the dollar and the rise in US bond yields are impacting precious metals.

Two factors are currently influencing gold demand in India — the festive and wedding season on the one hand, and global economic conditions on the other. While there is a surge in gold buying due to increasing domestic demand, globally investors are keeping an eye on interest rates and the direction of the dollar.

Market experts say that if the US Federal Reserve gives indications of cutting interest rates in the coming time, then gold can once again reach a new record level. At the same time, if the dollar strengthens then gold prices may remain slightly soft.

This time is being considered as the right opportunity for consumers to buy gold. Due to slight drop in prices and availability in the market, there is a lot of activity in jewelery shops. Every fluctuation in the price of gold affects the budget of consumers during the wedding season, but at present this fall has brought relief for them.

In this way, the shine of gold may have faded a bit during the wedding season, but market experts believe that its real glory is still left. Gold prices may rise again in the coming days with festive shopping.