Surat: Over the past month and a half, gold and silver prices have been consistently rising. After a dip in July following the central government’s tax cuts, the prices for both precious metals began to increase in mid-August, and the upward trend has continued. Despite reaching an all-time high, the demand for gold remains steady. Similarly, silver is seeing robust demand, with jewelry manufacturers receiving a surge of orders, keeping factories busy.
Gold Prices Could Reach Rs 85,000: Basudev Adhikari
Basudev Adhikari, a prominent figure in the Bengali community and a jewelry trader, reported that gold prices have been steadily increasing. On Sunday, 24-carat gold was priced at Rs 78,370 per 10 grams. He predicted that prices could soon surpass Rs 80,000 and potentially reach Rs 85,000. Despite this surge, orders for custom-made jewelry continue to flow in, and the market is expected to remain strong, particularly with the upcoming festivals like Dhanteras, Diwali, and the wedding season starting from Dev Uthani Ekadashi.
High Demand for Silver Statues and Gift Items: Mahesh Rungta
Silver trader Mahesh Rungta, based on Ghoddod Road, explained that there is a rising demand for silver items, including statues of deities and gift articles like silver utensils. As Diwali approaches, there has been a notable increase in orders for Lakshmi-Ganesh statues, along with other silver items like plates, bowls, and silver benches for temples. On Sunday, silver was priced at Rs 92,000 per kilogram, and Rungta believes prices could continue to rise, partly due to silver’s growing industrial applications.
Mahesh Rungta further added that the silver statues and gift items crafted at his workshop are being shipped to various cities across India, including Delhi, Mumbai, Chennai, Hyderabad, Kochi, Kolkata, and Bengaluru. The statues range in size from 1 inch to 36 inches (3 feet) and are custom-made with a focus on purity and craftsmanship. Silver accessories for religious rituals, such as dry fruit offerings and silver temple benches, are also in high demand ahead of the festive season.
