Akshaya Tritiya 2024: Why gold prices vary across cities?
Akshaya Tritiya approaches, several devotees buy gold on the occasion. Also recognized as Akti or Akha Teej in certain regions, Akshaya Tritiya holds significance for Hindu households worldwide. It symbolizes new beginnings and the welcoming of prosperity into one's life and household.
The price of gold recently surged to record levels, with 24 karat gold surpassing the Rs 75,000 mark per 10 grams. Several factors contribute to the final amount a buyer must pay for a piece of gold jewelry, including the prevailing gold price, manufacturing charges, and the expenses associated with any diamonds or other gemstones incorporated into the piece.
Given India's enduring tradition of buying gold during auspicious occasions like Akshaya Tritiya, it's crucial for individuals to conduct thorough research before making a purchase and understand how the price is determined for the precious metal.
While the allure of gold remains timeless, its pricing seems to dance to a different tune in every urban center.
1. Local Demand and Supply Dynamics:
At the heart of the matter lies the intricate interplay between local demand and supply dynamics. The demand for gold fluctuates not only seasonally but also regionally, driven by factors ranging from weddings and festivals to investment patterns. Cities with a higher demand often witness inflated gold rates compared to their counterparts with subdued demand.
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