The price of Gold and Silver hit an all-time high in India, which was driven by growing global tension and market uncertainties. Currently, gold has hit a high of Rs 80,080 per 10 grams, and silver prices have hit Rs 110,000 per 1 kg. 

Globally, gold prices are climbing due to escalating conflicts in West Asia and uncertainty surrounding the upcoming US elections. Geopolitical tensions, along with a more cautious stance from the Federal Reserve, have driven increased demand for safe-haven assets such as gold and silver.

Silver, in particular, has surged nearly 48% this year, outperforming all other industrial metals and energy commodities, reflecting its growing demand in uncertain times.

As the festive season approaches, the cultural significance of gold and silver in India becomes even more pronounced. 

In Indian culture, gold has been regarded as a symbol of wealth, status, and good fortune, and investing in gold goes beyond financial security and more about embracing traditions. 

This year, the demand for gold jewellery is expected to remain strong, particularly during Dhanteras and Diwali. Colin Shah, Managing Director of Kama Jewelry, noted, 

The demand for gold usually rises during this time, and elevated prices will not significantly impact festive buying.

There is a robust demand for gold, highlighting its cultural importance and the continued support from low interest rates keeping gold prices attractive.

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