Akshaya Tritiya Witnessing Fluctuations in Gold and Silver Prices

On Akshaya Tritiya, notable shifts have occurred in the prices of gold and silver. Gold prices experienced fluctuations once again today, starting with a decline. Presently, gold prices are hovering around ₹72,000 per 10 grams, marking an increase of nearly ₹725 compared to yesterday. Meanwhile, on May 7, 2024, silver was priced at approximately ₹88,500 per kilogram, whereas on May 8, 2024, it is trading at ₹81,700 per kilogram.

Price of gold and silver:

According to the India Bullion And Jewellers Association, on May 6, 2024, the price of 24 karat pure gold was ₹71,816 per 10 grams, and in the Indian Sarafa Market, on May 7, 2024, the gold price was ₹71,775 per 10 grams. Today, on May 8, 2024, the price of 24 karat gold is approximately ₹72,500 per 10 grams, indicating an increase of ₹725 compared to yesterday. Meanwhile, on May 7, 2024, silver was approximately ₹88,500 per kilogram, and on May 8, 2024, it is trading at ₹81,700 per kilogram.

Expectations of Market Volatility on Akshaya Tritiya: There are expectations of rapid fluctuations in gold and silver prices on Akshaya Tritiya. Currently, there is a slowdown in the purchase of ornaments by consumers and traders. There is hope for relief in metal prices post Akshaya Tritiya purchases. Typically, there is an increase in demand for gold on this day, which may result in a potential increase in its price. Buying gold on this day is considered auspicious, symbolizing wealth and abundance in harmony with nature.