Gold Prices Rise as Festive Demand Boosts Market Activity

Gold and silver prices see fluctuations amid increased consumer interest during Diwali and upcoming U.S. economic reports.

Gold prices have increased in major Indian cities, with 24-carat gold now priced at ₹81,513 per 10 grams in Delhi, reflecting a rise from previous days.
Silver prices also saw an uptick, with the rate in Delhi reaching ₹103,000 per kg, up from earlier in the week.
The rise in gold prices is attributed to strong festive demand during Diwali, with India's gold imports surging by 21.78% to $27 billion.
Jewelry stocks, however, have faced downward pressure despite the rise in gold prices, with companies like Titan and Kalyan Jewellers experiencing declines in share value.
Market participants are closely watching upcoming U.S. economic data, including nonfarm payroll and unemployment reports, which could impact global gold price trends.