Diwali 2024: The shine of gold is increasing with each passing month. Now as Diwali and Dhanteras approach, it is expected to make new records. The price of gold on last Dhanteras was around Rs 60 thousand, which has crossed the figure of 78 thousand per 10 grams this year. It has given a return of more than 30 percent since last Diwali. Now market experts estimate that gold can also touch the figure of Rs one lakh per 10 grams. However, for this you have to be a little patient.Â
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Huge purchase of gold and silver is expected on Dhanteras
Looking at the market trend, it is expected that there will be a lot of buying of gold and silver on this Diwali and Dhanteras as well. According to the data of the Indian Bullion and Jewelers Association (IBJA), the rate of gold has increased a lot since Diwali 2023. It has given investors more benefit than the 28 percent return of the Nifty 50 index.
In the year 2024 itself, the price of gold has increased by about 23 percent. It has outpaced equity returns. According to a report by Business Today, the Sensex has been able to give only about 11 percent return this year.Â
Diwali 2024: Gold may cross Rs 80000 mark this DiwaliÂ
The report says that despite such a high price, the demand for gold is not decreasing in the festive season. It can cross the figure of 80 thousand rupees on Dhanteras. Due to the serious conditions prevailing in the world, investors are considering it as the safest investment instrument. Along with liquidity, it also protects you from the effects of inflation. The purchase of gold is continuously increasing in every emerging economy.
Expected to touch peak of Rs 1,03,000 by Diwali 2025
Market experts say that apart from gold, you can also invest in Gold ETF and Sovereign Gold Bond. Now is considered to be the right time to invest in gold. You can buy gold with a target of Rs 1 lakh per 10 grams by next Diwali and Dhanteras.
Its price is expected to reach Rs 1,03,000 per 10 grams by Diwali 2025. Gold has almost doubled in the last 5 years. Also, it has jumped 10 times in 10 years. There is no hope of its desire decreasing in the coming times.
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Keep these 3 things in mind while buying gold
1. Buy certified gold :
Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). There is a 6-digit hallmark code on gold. This is called Hallmark Unique Identification Number or HUID. This number is alphanumeric i.e. something like this- AZ4524. Through hallmarking, it is possible to find out how many carats a gold has.
2. Cross check the price:
Cross check the correct weight of the gold and its price on the day of purchase from multiple sources (such as the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat. 24 carat gold is considered the purest gold, but jewellery is not made from it because it is very soft.
3. Don’t pay in cash, take the bill:
While buying gold, it is better to pay through UPI (like Bhim App) and digital banking instead of cash payment. If you want, you can also pay through debit or credit card. After this, do not forget to take the bill. If you have ordered online, then definitely check the packaging.
