Gold price crosses Rs.1950 per gram

Gold price which was hovering just above Rs.1900 per gram for last 4 weeks, has made a big upward move on a single day Wednesday Oct 6th, to cross Rs.1950 per gram.

With the 9 day Navratri or Dasara or Dussehra festival starting this Friday Oct 8th, and with Diwali or Deepavali the festival of lights on Nov 5th early next month, Gold price has every reason to cross record Rs.2000 per gram very soon. Just 6 years back Gold price was Rs.500 per gram, now it is about to touch record Rs.2000 per gram very soon.

As written in my earlier article below, with all major Asian countries deciding to devalue their currencies to encourage exports, with paper money reducing in value - There is only one way for Gold price -> Go Up.

By the way after the Diwali festival ends on Nov 6th, immediately on next day Nov7th the Karthika Masam (auspicious Hindu month in Hindu calender particularly in South India) starts. The Karthika Masam will last until Dec 5th, and is an important Hindu marriage season.

With important festivals and marriage season back to back.....Gold Price looks set to go way up in coming weeks.