April 13, 2024
Gold Rates Decrease in India on the Occasion of Dhanteras 

Gold Rates Decrease in India on the Occasion of Dhanteras 

Dhanteras is just around the corner as the trayodasi tithi starts at 6.02. p.m. on October 22 and lasts till 6.03.p.m. October 23. Since it is regarded as the auspicious time to buy gold according to Hindu tradition, people flock to jewelry shops to buy gold. Keeping the Dhanteras rush in mind, many jewelry shops have started making preparations beforehand. They have expressed hope that business would increase since gold prices have dropped.

Gold and Silver Rates

On the other hand, Gold and silver rates have decreased across the country in the past ten days. The 22-Karat Gold rate on October 22 is ₹4,624 per gram, and a gram of 24- Karat gold comes at ₹5,044 today. Silver prices have also decreased along with Gold. One gram of Silver costs ₹50.70. as of today. The price drop has been observed for ten days while it remains stable and increased by 1 or 2% during two days. The price of 22- the karat goal on October 13 was ₹46,750, while the 24-karat gold was priced at ₹51,000. Observing the plummet in the gold price, many people have shown interest in buying Gold and Silver for Diwali.

The importance of Dhanteras

For ages, Indians have had an inseparable bond with Gold, and it’s not just regarded as a great investment but holds a sentimental value in Indian tradition. Dhanteras is the beginning of festivities for Diwali. Hindus celebrate it by worshipping the Goddess of wealth, Laxmi, and the God of Health, Dhanvantari. It is believed that buying Gold during the period would benefit them and Goddess Laxmi bestows more wealth and health in their life. Apart from Gold, Dhanteras is also an ideal time for buying metals, and people buy Brass and copper vessels. Automobiles and Gadgets sales also increase during the Diwali season.

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