This year, Diwali isn't exactly glittering for those considering buying gold. With prices trading at about Rs 32,000/10 gm, the sentiment towards gold is weak. But as buying precious metals is considered auspicious during festivals, you could look at alternatives such as silver. If you can afford it, you could also consider platinum, more expensive than gold and giving a higher return than the yellow metal.
On Dhanteras, on November 1 this year, people usually buy gold. Naveen Mathur, associate director (commodities and currencies), Angel Broking, says while the current fundamentals for gold seem weak due to changing investor perception, demand for the commodity would remain intact in the long run.
Text and Images: Reuters