Gold prices hit low for second time this year
There could not be better news for gold buyers with the prices of yellow metal (22 carat) hitting a low of Rs 25,600 for the second time this year and that too near the festival time.chandigarh Updated: Sep 23, 2014 09:10 IST
There could not be better news for gold buyers with the prices of yellow metal (22 carat) hitting a low of Rs 25,600 for the second time this year and that too near the festival time.
The rates have overall decreased by about Rs 5,000 as compared to last year.
Earlier this year, it was in June that the rates were at Rs 25600 for 22-carat gold.
The city-based jewellers say that they expect the prices to fall further, adding that this is a good time to invest in gold with the festival season round the corner.
Vinod Talwar, president jewellers association, said, "Last year, 22-carat gold remained between Rs 28,000 and Rs 30,000 except in July when it fell a little further."
He said the price for 22 carat has remained in the bracket of Rs 26000 to Rs 28000.
The jewellers say the gold prices have been hit globally.
"It has become unpredictable and one never knows when the prices will rise or fall. It is advisable to buy gold when the prices are low," adds Talwar.
With the Navratras starting on September 25, the jewellers are hopeful that the customers will turn up in large numbers.
Renu Vig, a resident of Sector 22, said, "It is a good time to buy gold. I do not remember in last couple of years when gold prices fell near the festive season. Let us hope they remain low till festival days."