Will the gold price surge in the coming winter months? Here is a brief overview of the shift in gold rates

Gold prices have witnessed a significant oscillation in the past few months. After a busy festive season, the gold market has entered a settling period, with demand cooling off as buyers tend to decrease their buying spree. There has not been a major change in the metal’s price since the beginning of the week. However, minute fluctuations were still observed in the price.

As of Thursday, the price of 10 grams of 24-carat (24K) gold in Kolkata, West Bengal, is hovering around ₹1,23,623.40, and that of 22-carat (22K) hallmarked jewellery is at approximately ₹1,11,750 per 10 grams. The price does not include GST and making charges.

This modest decline from the record highs prevailing just ahead of the festivals has been a relief for many. The impulse purchases during festivals are over, but serious booking for the wedding season has already started. Families are placing orders for bridal sets, taking advantage of stable prices.

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This year vs last year

The price of gold last year compared to the price this year is a striking difference. In November 2024, 10 grams of 24-carat (24K) gold was priced in the range of ₹75,000 to ₹80,000. However, comparing this with today’s price of nearly ₹1,22,000 saw a massive jump of over 50% in just twelve months. This sharp rise indicates gold’s strong performance as an asset.

5 years down the lane

Looking back 5 years, the shift in gold prices is even more extreme. In 2020, during the onset of the COVID-19 pandemic, 10 grams of 24-carat (24K) gold would cost around ₹48,600. The surge in price is more than 150%, which is a clear indicator of the increasing global uncertainty, inflation, and steady buying by the central banks. These scenarios have pushed the metal to reach new heights over the last half-decade.

As of now, the country is in a quiet phase. A rush can again be observed in the coming winter months for the wedding season.

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{News Ei Samay does not provide investment advice anywhere. Investment and trading in the share market or any field involve risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}