The precious metal Gold rates will go upaccording to the market experts. Right now the rates per 10 grams are hovering around Rs38000 and Rs 39000. According to market experts, the rates may cross 40000 per 10 grams soon.
In a few months, the gold is expected to reach to a rate of around Rs 42000 per ten grams.
In the same way, the silver per KG will also rise by one or two thousand it is reported. For Diwali usually, the rates of Gold and Silver will go up. But this time they remained stable with a little increase.
Overall Diwali purchases dipped to a little extent when compared to the last year. There is this talk of a slow down in the economy, but these days people are trying to save money in the form of Gold.
The Rs 2000 notes printing has been stopped, and the best alternative is to purchase gold and store it.
That is the reason the purchase of Gold is continuing to some extent. The faith in Banks is coming down and people are going away from the fixed deposit concept. Different Bank scams are discouraging the people, in general, to move away from the banks.
The SBI is charging left and right on all the services. Middle-class customers are closing the accounts in SBI.
