Suryaa Business Desk: On the occasion of Diwali, pasidi lovers got a shock. Consecutive rising gold prices are burning holes in buyers' pockets.... On the occasion of Diwali, pasidi lovers got a shock. The rising gold prices are putting a dent in the pockets of the buyers. Due to the festival demand across the country and the upcoming auspicious events and wedding season, the purchase of pasidi has picked up once and for all. Due to this, the traders are increasing the prices to match the demand. While the rates of paddy rose from the beginning of this week on Monday, an increase in prices was also recorded on Thursday, October 29. Common and middle class people are expressing concern to see the increase in pasidi prices before the festival.
Experts in the financial sector are analyzing that the same trend may continue in the coming days. Today, the price of 10 grams of 24 carat pure gold in the major cities of Telugu states Hyderabad, Vijayawada and Visakhapatnam continues at Rs.1,43,960. Similarly, the price of 10 grams of 22 carat gold used for jewelery is trading at Rs.1,31,960. Gold rates in national capital Delhi are fueling more fire. There, the price of 24 carat pasidi was Rs.1,44,110, while the rate of 22 carat was recorded at Rs.1,32,110. And in the other major cities of the south, Chennai and Bangalore, 24 carat gold has settled at Rs.1,43,960 and 22 carat gold has settled at Rs.1,31,960, scaring the consumers. While the gold prices are touching the sky, the silver prices are moving in a slightly different direction and giving little relief to the consumers. Silver prices fell marginally in the market.
In Chennai, the capital of Tamil Nadu, a kg of silver was Rs. 2.20 lakhs yesterday, but today it is continuing at Rs. 2,19,900. Apart from Hyderabad, Vijayawada and Visakhapatnam, the national capital Delhi and Bangalore are also selling silver at Rs.2,19,900 per kg. Market sources believe that the demand for pasidi will not decrease as long as the festive season continues and gold prices are likely to break more records in the coming days. Also Read: Radhika Apte is upset about wearing indecent clothes in an action scene