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Indians rush to buy gold before Diwali despite record prices, driven by tradition and economic uncertainty.
Despite record-high gold prices—reaching ₹1.25–1.3 lakh per 10 grams and surpassing $4,000 per ounce—shoppers in Shimla and surrounding areas are flocking to jewellery showrooms ahead of Diwali and Dhanteras.
Demand remains strong due to tradition, cultural sentiment, and gold’s perceived value as a safe investment amid economic uncertainty.
Jewelers report heavy foot traffic, boosted by promotions like free gold coins, transparent billing, and the low 3% GST rate.
Customers, including younger buyers, are purchasing based on budget and emotional connection, drawn to new designs and gold’s long-term security.
Silver jewellery is also seeing increased interest.
Los indios se apresuran a comprar oro antes de Diwali a pesar de los precios récord, motivados por la tradición y la incertidumbre económica.