On the occasion of Dhanteras and Diwali, gold is selling at Rs 5552 cheaper than its highest rate. At the same time, silver is getting cheaper 13211 rupees. On Thursday, the average spot price of gold in bullion markets across the country was Rs 50702 per 10 grams, while on August 7 this year, gold reached Rs 56254. If we talk about silver, the silver spot sold on Thursday was Rs 62797 per kg whereas on August 7 it was at Rs 76008.

Also Read: Dhanteras 2020: Worship Maa Lakshmi and Lord Kubera this evening

It is believed that buying gold on the occasion of Dhanteras, Diwali and Akshaya Tritiya is auspicious. During the Corona period, the brightness of gold-silver rose significantly, but after reaching the all-time high rate of August, the gold rate is registering a decline. The silver inundum has fallen there. If we talk about Delhi Bullion Market only, then on Thursday, the price of gold fell by Rs 81 to Rs 50,057 per 10 grams. Similarly, silver also came down to Rs 62,037 per kg. That is, gold is still cheaper by Rs 6200 at the rate of August 7.

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Know how cheap gold is from your all-time high of August 7

Metal Rate of 12 November (Rs / 10g) 7 August rate (Rs / 10g)

Rate change (Rs / 10g)

Gold 999 (24 carat) 50702 56254 -5552
Gold 995 (23 carat) 50499 56029 -5530
Gold 916 (22 carat) 46443 51529 -5086
Gold 750 (18 carat) 38027 42191 -4164
Gold 585 (14 carat) 29661 32909 -3248
Silver 999 62797 Rs / Kg 76008 Rs / Kg -13211 Rs / Kg

How will be the move

HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold and silver prices are expected to remain in this range for the current festive season.” In their prices, investors and consumers will see less upheaval. He also said that on the auspicious occasion of Dhanteras, jewelery makers are expecting good festive sales. In the international market, gold was trading at $ 1,865 an ounce. Silver was flat at $ 24.09 an ounce.

Importance of buying gold on Diwali

Buying gold during Diwali is religiously important. Buying gold during Diwali is considered auspicious. The ritual of buying gold on this day is equivalent to inviting Lakshmi, the goddess of wealth and prosperity, into the house. Also, the most favorite items to buy gold during Diwali are coins. In India, gold coins are specially molded for Deepawali, Goddess Lakshmi is embossed on the front and her symbol is embossed on the other side of Shree coin. Among other coins, both Goddess Lakshmi and Lord Ganesha, and alternatively Goddess Saraswati are embossed on gold coins.

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