Gold Loses Sheen; Breather from Plunge Likely Next Week

September 18 16:56 2014

gold 2New Delhi, Thursday, September 18 – The trend of rise and fall has continuously been observed in the purchasing of gold this year. Most of the time, it remained in a range which could be conveniently been afforded by the general public.

People who used to think splurging for yellow metal a best method to invest are not much interested to have a good collection of gold coins, necklaces and bars, which were considered to be an optimal solution of various problems during bad phases of life. The way its price per 10 gm goes up slightly and falls up to considerable extent gives birth to the uncertainty that it wouldn’t give desired benefit if sold for fulfilling a number of purposes during crucial occasions.

‘Probably due to Pitru Paksha, a time when usually residents avoid buying any new thing, the precious metal has been moving to and fro. However, situation might be just opposite as of today’s after a week given that several festivals are about to fall soon and are very auspicious events to buy gold and silver’, said a market expert who predicted massive augmentation in the prices of metals, which are vastly used in making ornaments and utensils, during Navratri. Since only a month time remains for Dhanteras to come, anticipating increase in the cost of both gold and silver wouldn’t be wrong in any case. Not only this, upcoming wedding season may also spur the hike in rate.