Festive Season: According to the All India Sarafa Association, this rise has been seen due to the increasing demand of jewelers in the festive season. There has been a rise in gold and silver on MCX as well.

Festive Season: Festive season has started with the beginning of Navratri in the country. As expected, the prices of gold have started flying. On Friday, gold became costlier by about Rs 150 and reached Rs 78,450 per 10 grams. This is also its all-time high. On the other hand, silver is also not behind in this race. There was a tremendous jump of Rs 1,035 in the rate of silver and it reached Rs 94,200 per kg.

Due to tremendous demand from jewelers, there was a jump

According to the All India Sarafa Association, this jump has been seen due to tremendous demand from jewelers and retailers in the festive season. On Thursday, gold closed at Rs 78,300 per 10 grams. This jump in prices is coming due to increased demand for gold and silver during Navratri. On the Multi Commodity Exchange (MCX), December gold contracts also rose by Rs 131 to Rs 76,375 per 10 grams. This is also close to its all-time high.

Silver is moving rapidly towards the target of Rs 1 lakh per kg

Silver is also moving rapidly towards the target of Rs 1 lakh per kg. Its industrial demand was already strong. Now due to the demand of the people in the festive season, jewelers are also buying more. On MCX (Multi Commodity Exchange), December silver contracts have also increased by Rs 219 to Rs 93,197 per kg.

Gold rates may set a new record on Dhanteras

This rise in gold and silver rates may continue next week as well. Diwali is also coming after Navratri in October. In this, there is a huge purchase of gold and silver on the day of Dhanteras. It is believed that the gold rate may set a new record on Dhanteras.