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Gold falls behind silver and diamonds on Dhanteras 2024 amid high prices: Report

Gold sales fell in the middle of a rise in silver sales and demand for diamonds during Dhanteras 2024 due to a 30% rise in prices compared to last year

The shift came due to Gold prices already being quite high (Gold prices rose 30% since last Diwali) and silver being perceived as a more practical investment(Representational Image/Pixabay)
Updated on Oct 30, 2024 01:19 PM IST

Gold rate today on Dhanteras 2024: Prices reach 78,804, 0.3% in the green

Gold rate today on Dhanteras 2024 for futures dated December 5 gained 0.3% or by ₹238 from the previous close according to MCX data

Agartala: A gold necklace displayed at a jewellery showroom ahead of Dhanteras festival, Friday, Oct 25, 2024.(PTI)
Updated on Oct 29, 2024 12:45 PM IST

Gold prices drop slightly ahead of Dhanteras 2024, here's why

Despite a short term dip, gold mostly outperformed the stock market with the Sensex rising only 10.79% this year while gold prices rose 30% since last Diwali

Notably, the recent dip in the prices of Gold can be linked to a strengthened US dollar (currently at <span class='webrupee'>₹</span>84.0725 per dollar), as investors are closely monitoring US macroeconomic data, including inflation and GDP reports, to gauge potential rate cuts by the Federal Reserve.
Updated on Oct 29, 2024 07:28 AM IST

Gold prices during Dhanteras and Diwali surged nearly 30% this year, see why

Gold prices on the occasions of Dhanteras and Diwali have gone up nearly 30% over the last one year and now stands at a little less than ₹80,000 per 10 grams

Gold jewellery kept on display inside a shop in Kolkata on July 23, 2024.(Dibyangshu Sarkar/AFP)
Published on Oct 25, 2024 01:51 PM IST

Why gold prices are at all-time highs? Is further rise likely ahead of Diwali?

Gold prices hit record highs, with spot gold up 0.5% at $2,588.29 per ounce, driven by a weaker dollar and anticipated US interest rate cuts.

Lower interest rates favor zero-yield bullion as a safe investment. Spot silver and platinum also saw gains, reflecting favorable market conditions for precious metals.
Updated on Sep 16, 2024 02:02 PM IST
Reuters |
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