Sudden drop in Gold Prices just before weddings is it time to buy?

New Delhi (The Uttam Hindu): With the wedding season driving up gold purchases prices typically rise, making it an ideal time to invest. However on Saturday, December 7, gold prices took an unexpected dip. Compared to Friday December 6 the price dropped by Rs 250. Currently 10 grams of 22-carat gold is priced at Rs 71,200, while 24-carat gold is trading around Rs 77,600. Silver, however, has remained steady with one kilogram priced at Rs 92,000 across the country. In Indore the financial capital of Madhya Pradesh 24-carat gold is priced at Rs 78,200 per 10 grams while 22-carat gold is selling at Rs 71,500 per 10 grams. The price of silver is unchanged at Rs 92,200 per kilogram.

Across other major cities gold prices have been showing some fluctuation:

- Delhi: 24-carat gold is Rs 77,770 per 10 grams while 22-carat gold is Rs 71,300 per 10 grams.

- Noida, Ghaziabad, Lucknow: Prices mirror Delhi’s at Rs 77,770 for 24-carat and Rs 71,300 for 22-carat.

- Mumbai: 24-carat gold is Rs 77,620, while 22-carat gold is Rs 71,150.

- Kolkata: 22-carat gold is Rs 71,150, and 24-carat gold is Rs 77,620.

- Patna: 22-carat gold is Rs 71,200, and 24-carat gold is Rs 77,670.

Experts suggest that while gold prices are currently fluctuating they are likely to rise again in 2025. The price of 10 grams of gold could soar to Rs 90,000 by then offering substantial returns for long-term investors.