Are there any seasonal trends observed in the gold price in Meerut?

Gold has always been considered a valuable asset, especially in India where it holds cultural and religious significance. As a result, it is no surprise that people in Meerut, like many other cities in India, keep a close eye on gold prices.

When it comes to seasonal trends in gold prices in Meerut, it is essential to note that the price of gold is determined by various global factors. The price of gold in the international market primarily determines the gold price today in Meerut.

However, certain seasonal trends are observed in the gold price in Meerut due to demand and supply forces. During weddings and festivals like Diwali, Akshaya Tritiya, and Dhanteras, the demand for gold jewelry and coins increases sharply. This sudden demand during these seasons leads to an increase in the gold prices in Meerut.

On the other hand, during the monsoon season, people tend to spend less on gold due to the high cost of agricultural inputs. As a result, the demand for gold decreases, and prices also drop marginally.

Another factor that affects gold prices in Meerut is the US dollar. As gold is priced in dollars globally, any fluctuation in the dollar's value significantly affects the gold price in Meerut. If the value of the dollar increases, the gold price drops, and if the value of the dollar decreases, the gold price rises.

Gold prices also tend to fluctuate in response to geopolitical issues like trade wars, political instability, and conflicts that can affect the global economy. This impact is because gold is considered a safe-haven investment during such uncertainties.

In conclusion, while international market forces significantly determine the gold price in Meerut, certain seasonal trends occur due to local demand and supply forces. With the Covid-19 pandemic continuously leading to massive economic fluctuations, it is integral to stay informed and check the gold price today in Meerut before investing.