Mumbai, October 25: Today is the auspicious occasion of Dhanteras when people buy gold. To the much respite of the buyers, the price of the yellow index has slipped marginally today. The price of 10-gram 22 carat gold is at Rs 37,550, down by Rs 10. On the other hand, the price of a 10-gram 24-carat gold is Rs 39,400 in Mumbai, according to Fresherslive.com report. Gold has been trading in a volatile terrain for the last few days after reaching its high of Rs 40,000 last month.
The rates have been increasing on a daily basis, as a result of which, there has been a major slump in the demand. According to previous reports, a dip of 50 percent in sales is expected on this auspicious occasion. In the Hindu calendar, people buy gold on Dhanteras as well as on Diwali, but this time the scenario is different. Dhanteras 2019 Wishes in Hindi: WhatsApp Stickers, GIF Image Messages, Dhantrayodashi Pics, Hike Greetings, SMS, Quotes to Send on First Day of Diwali.
With the skyrocketing rates, jewellers are struggling to make the customers buy. However, they are hopeful and believe that with the government's recent announcement on bonus will help boost sales this year and the upcoming wedding season will also contribute to the sales.
Gold prices in India have surged 20 percent this year and had hit a high of Rs 40,000 per 10 gm last month. But they have fallen more than Rs 2,000 from that level. According to the prediction of the expert, the price of the yellow metal will continue to hover around Rs 40,000 on Dhanteras and Diwali this year.