Will festivals be cheaper or break all records? Know you should buy or stop now:

The festive season is knocking at the door, and for Indians, the festival does not only mean sweets and new clothes, but also buying gold. Be it Dhanteras, Diwali or the season of weddings, buying gold is an essential part of our tradition. But this time there is only one big question in everyone’s mind before buying gold – “Should you buy gold now, or wait for the price to fall?”

There is a lot of confusion about the price of gold in the market. Some are saying that gold will be cheaper, then someone is estimating to cross 70,000. Let’s try to resolve this confusion today.

What is the mood of the market saying?

Since the beginning of this year, the prices of gold have been touching the sky. The sound of the worldwide recession and the strength of the dollar has made gold a ‘safe zone’, which has seen a steady increase in its prices. In India too, gold is revolving around Rs 60,000 per 10 grams.

Now as the festivals are coming closer, the demand for gold is bound to increase. India is one of the biggest gold buyers in the world, and when demands increase here, it also affects prices. Jewelers say that people have started inquiring for shopping, and they hope that sales will be good this time.

So will the price increase further?

This is what most experts believe. He says that when demand increases, prices are natural. If you are thinking that gold will be cheaper on Dhanteras, then you may be disappointed. Till then the price may increase even more.

Apart from this, the price of gold depends not only on our demand, but also on many other things, such as:

• Government policies: The government has recently increased the tax on import duty on gold, ie imports from outside. It has also had a direct impact on gold prices.
• Dollar Price: When the dollar is strong, buying gold becomes expensive.
• International circumstances: If tension increases anywhere in the world, then people start investing in gold for safety, which increases the price.

So what should a common man do?

If you want to buy gold for a festival or marriage, it would probably not be intelligent to wait. Looking at the market mood, it seems that prices may increase further.

You can adopt these methods:

1. Buy a little bit: Instead of buying a lot of gold at once, you can buy a little by little every month or whenever you see a slight fall in the price.
2. Buy the right place: Always buy gold from a trusted jeweler and check its purity i.e. hallmarking.

Overall, gold is expected to be cheaper in this festive season. So if you have made up your mind to buy, then this is probably the right time.