With the wedding season approaching, gold prices have surged to an all-time high, touching Rs 92,000 per 10 grams. Traders in Maharashtra’s Nashik and Jalgaon anticipate further increases, driven by global economic trends. Jalgaon, known for its impeccable gold purity and craftsmanship, remains a popular destination for buyers from Maharashtra, Gujarat, and Madhya Pradesh.
Sushil Bafana, a well-known jeweler in Jalgaon, shared insights on the market’s fluctuations. “On Saturday, gold was priced at Rs 91,052 per 10 grams (including taxes), slightly lower than Friday’s Rs 91,600. These shifts are closely linked to international developments, especially recent trade measures by the U.S. Gold continues to be a preferred investment option,” he said.
Jalgaon’s competitive jewelry market ensures that customers receive high-quality gold at reasonable prices, despite the rising costs. Buyers remain undeterred, with Rajesh Bendale, who is purchasing jewelry for his daughter’s wedding, stating that gold’s long-term value makes it a worthwhile investment, regardless of price hikes.
Globally, spot gold prices reached an all-time high of $3,004 per ounce today, marking a 14.2% rise this year following last year’s 27.24% increase. The price rally is primarily driven by economic uncertainty due to Donald Trump’s trade policies, prompting investors to shift from riskier assets to gold.
Central banks, particularly China, have been increasing gold reserves for four consecutive months, further fueling demand. A weaker dollar and disappointing U.S. inflation data have also contributed to speculation about potential interest rate cuts in the U.S. and India.
Adding to market tensions, concerns are mounting that the Trump administration may impose tariffs on gold imports. Reports suggest that major U.S. banks are even flying gold bars from London to New York on commercial flights to counter potential restrictions.
