2 weeks ago
Gold may rise 15-20% as festive jewellery demand picks up
Gold is a precious metal that people use to make rings, necklaces, and other jewellery.
A man named Saiyam Mehra works for a jewellery company called Unique Chains.
He thinks the price of gold will go up by 15 to 20 percent in the next two or three months.
He says this will happen because people will buy more gold jewellery during the festive season.
Festive time is when families celebrate holidays and often buy new jewellery.
Lately, jewellery sales have been weak, but he expects them to get better.
He also says the current price of gold is a good time for people to buy.
More people are asking for lightweight and lower-carat jewellery, which is cheaper.
All of this could make the price of gold rise.
Saiyam Mehra, Director of Unique Chains, forecasts gold could rise 15-20% in the next 2-3 months.
The expected rise is driven by a pick-up in festive jewellery demand after a weak sales period.
Mehra sees ₹1.54 lakh per 10 grams on MCX as a good buying level for gold.
Demand for lightweight and lower-carat jewellery is reportedly increasing.
Higher jewellery exchanges and gold recycling could provide further support to the market.
- Who
- Saiyam Mehra, Director of Unique Chains
- What
- Predicted that gold prices may rise 15-20% over the next 2-3 months as festive jewellery demand picks up
- Where
- On the MCX gold market
- When
- Over the next 2-3 months
- Why
- Festive jewellery demand is expected to recover after a weak period, with rising demand for lightweight and lower-carat jewellery, plus support from jewellery exchanges and gold recycling
Key facts
- Forecast
- Gold may rise 15-20% in 2-3 months
- Key driver
- Festive jewellery demand picking up after a weak period
- Recommended buying level
- ₹1.54 lakh per 10 grams on MCX
- Source
- Saiyam Mehra, Director, Unique Chains
- Emerging trend
- Rising demand for lightweight and lower-carat jewellery
- Market supports
- Higher jewellery exchanges and gold recycling
Sources
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