Gold crosses Rs 82000 for the first time on Diwali, prices skyrocket due to increased demand

31 oct 2024

Gold price hits new all-time high ahead of Diwali. Gold prices rose by Rs 1,000 to a new all-time high of Rs 82,400 per 10 grams in Delhi NCR’s bullion market on strong demand.

According to the All India Bullion Association, the price of gold of 99.9 per cent purity rose by Rs 1,000 to a new high of Rs 82,400 per 10 grams in Delhi due to strong demand ahead of Diwali. Gold of 99.5 per cent purity also rose by Rs 1,000 to a historic high of Rs 82,000 per 10 grams. Earlier, gold of 99.9 per cent and 99.5 per cent purity had closed at Rs 81,400 and Rs 81,000 per 10 grams on Dhanteras on October 29, 2024.

According to the traders, the reason for the rise in gold prices can be attributed to the heavy purchases being made by local jewelers to meet the increasing demand during Diwali. Apart from this, the uncertainty before the US presidential elections and the atmosphere of tension at the global level is also a major reason for the rise in gold prices. In the last one year, the price of gold has increased by 35 percent. On 29 October 2023, the price of gold was Rs 61,200 per 10 grams, which has now reached Rs 82,400 per 10 grams.

Silver price has again crossed Rs 1 lakh. Silver jumped by Rs 1,300 to Rs 1.01 lakh per kg, compared to Rs 99,700 per kg in the previous trading session. Silver prices have also increased by 36 percent in one year. On October 29 last year, silver was priced at Rs 74,000 per kg, which has now fallen to Rs 1,01,000 per kg.