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Gudi Padwa jewellery sales flat; demand for gold coins surges

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 Gold prices have surged to nearly Rs 90,000 per 10 grams (excluding GST) in the physical market, leading to a noticeable decline in jewellery sales in Maharashtra/Goa during Gudi Padwa, a festival traditionally associated with gold purchases. Despite this, demand for gold coins as an investment remains strong, as consumers anticipate further price appreciation. Mumbai’s largest gold hub has observed a shift in consumer behavior toward gold coins and bars. Traders said  that buyers are purchasing gold coins with the expectation of future price increases.

As of Gudi Padwa, gold prices have reached nearly Rs 90,000 per 10 grams, making gold jewellery significantly more expensive. Higher prices have deterred traditional jewellery buyers, shifting demand towards investment-oriented purchases, such as gold coins. Industry experts anticipate that gold prices may continue to rise, reinforcing gold’s status as a long-term store of value.

Equal demand was observed between gold jewellery and investment-grade coins. Retailers introduced discounts and exchange offers, but high prices still impacted sales volume.Tier-2 cities experienced similar trends, with more gold coin buyers than jewellery shoppers. Lightweight jewellery, silver accessories, and gold-plated ornaments saw higher traction compared to heavy gold jewellery.

Global trade tensions and potential U.S. Fed rate cuts are boosting gold’s attractiveness as an investment. Investors are shifting towards gold due to its historical role as a hedge against inflation and economic instability The Indian Rupee’s performance against the U.S. Dollar is also a contributing factor to local gold price fluctuations.

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National News

MCX Gold Futures Open Marginally Lower, Silver Prices Move Higher

Gold and Silver Are Consolidating As Expectations Of Rates Staying Higher For Longer Keep Sentiment In Check, With Markets Awaiting Fresh Cues From Fed Officials

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Gold futures opened marginally lower on India’s Multi Commodity Exchange (MCX) on Wednesday, while silver prices moved higher, taking cues from international markets where lower crude oil prices provided underlying support to precious metals.

Oil prices fell for a sixth straight session following comments from U.S. President Donald Trump regarding productive diplomatic engagements with Iranian officials, easing geopolitical risk premiums.

On Wednesday, precious metals on India’s Multi Commodity Exchange (MCX) posted mixed performance, with benchmark October gold futures opening Rs 141 lower at Rs 152,575 per 10 grams before easing further to trade at Rs 152,550 (down 0.11%), within an intraday range of Rs 152,549 to Rs 152,848 and remaining below its 52-week high of Rs 180,779. In contrast, December silver futures gained momentum, opening Rs 424 higher at Rs 240,312 per kg and rising to Rs 240,341 (up 0.19%) within a session range of Rs 240,092 to Rs 240,481, off its peak of Rs 420,048.

Gold and silver are consolidating as expectations of rates staying higher for longer keep sentiment in check, with markets awaiting fresh cues from Fed officials..

Meanwhile, global markets reflected modest gains on COMEX; gold futures opened at $4,394.70 per ounce before trimming gains to trade at $4,377.80 (up $1.40) against its 52-week peak of $5,586.20, while silver futures opened at $67.61 per ounce and settled near $67.07 (up $0.54), well below its 52-week high of $121.79.

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