Gold Price Today: With the beginning of the holy month of Sawan, a special opportunity has arisen for those who buy gold and silver. In Indian culture, the month of Sawan is considered very sacred and auspicious, due to which many people buy precious metals for their homes at this time. Experts believe that at present, relative stability is being seen in the prices of gold and silver, which is a good sign for investors. Along with religious beliefs, this time is also considered suitable for buying gold and silver from an economic point of view.
There is no major turmoil in the market at this time, which is giving buyers a chance to invest with peace of mind. The tradition of buying gold and silver in the month of Sawan has been going on for centuries and even today people consider it auspicious. Looking at the current market conditions, it can be said that this is an excellent opportunity for investors.
Review of changes in gold prices
On July 7, a marginal increase was seen in the gold prices in Varanasi’s bullion market, taking the price of 24-carat gold to Rs 98,980 per 10 grams. Earlier on July 6, the price was Rs 98,880, which shows that the market has seen a marginal increase of only Rs 100. This increase is a reflection of the surge in the international market but it has not been very effective at the domestic level. The price of 22-carat gold has also increased in the same proportion to Rs 90,750 per 10 grams, while earlier it was Rs 90,650.
18 carat gold has also seen a rise of Rs 80 and is currently priced at Rs 72,500 per 10 grams. This slight increase shows that the market is still stable and there are no major fluctuations. This slight increase in gold prices reflects the impact of global factors but it is in control due to the balance of local demand and supply.
stability in silver prices
There has been no change in the silver market today and its price remains stable at Rs 1,10,000 per kg. This stability is a positive sign for silver investors as it gives a sense of continuity in the market. This stability in silver prices shows that there is a balance between the demand and supply of this metal. This can be considered a good time for people investing in silver at present.
Stable prices of silver also mean that there is little chance of any sudden fall or rise in it in the near future. This provides investors with an opportunity to invest in silver in a planned manner. The demand for silver usually increases in the month of Sawan but so far no major impact has been seen on the prices.
Opinions and suggestions from market experts
According to Santosh Kumar Agarwal, President of Varanasi Sarafa Association, the wedding season is over at present, due to which there has been some decrease in the demand for gold and silver. He believes that there will be fluctuations in prices in the coming time but there is no possibility of a major change. This situation is favorable for investors because they can make their purchases without any major risk. Experts suggest that the present time is suitable for buying gold and silver.
Market experts believe that there may be an increase in demand due to religious shopping in the month of Sawan, but this increase will be in a controlled form. Therefore, this time is considered good for those who want to invest for a long time. Experts advise that investors should invest according to their financial capacity and keep monitoring the market regularly.
Future Prospects and Investment Strategy
According to economic experts, some more increase can be seen in the prices of gold and silver in the coming time, but this increase will be gradual and controlled. Due to global economic conditions and inflation, investing in precious metals is considered a safe option. Investors are advised to keep a fixed portion of their total investment in gold and silver so that their portfolio remains safe in times of economic instability.
At present, digital gold and silver options are also available which provide more flexibility to investors. Those buying in the month of Sawan are advised to buy only from certified bullion shops and keep all the necessary documents safe. It is necessary to pay special attention to the quality and purity of carat while investing.
Benefits of shopping in Sawan
Buying gold and silver in the month of Sawan has religious significance as well as economic benefits. Due to stability in the market at this time, investors can make their purchases without panic. Many bullion traders also run special discounts and schemes at this time, which gives additional benefits to the customers. Shopping done in Sawan is considered auspicious and traditionally brings happiness and prosperity in the house.
Another advantage of buying at this time is that the festive season is still far away, so there is less chance of a sudden jump in prices. Investors can gradually build their portfolio as per their convenience. Gold and silver bought in the month of Sawan can be sold at a better price in the future when the festive season comes.
Considering the current market conditions, the month of Sawan seems to be an excellent time to invest in gold and silver. This time is particularly favorable due to stability in prices and religious significance. Investors are advised to invest according to their financial situation and keep monitoring the market regularly. Investing in gold and silver should be seen as a long-term strategy and not for quick profits.
Disclaimer
The gold and silver prices given in this article are based on information obtained from the internet. Before investing, take any investment decision only after visiting the official website and checking the current rates of the international market. Investment in the market is subject to risk and investors are advised to invest only after consulting their financial advisor.
