A recent decline in precious metal prices has triggered a surge in footfall and consumer inquiries across Lucknow’s bullion hubs. The dip has prompted a split reaction among buyers: while festive shoppers are stepping in to make immediate purchases, another section is holding back in anticipation of further price corrections. Jewelers reported receiving continuous inquiries throughout the day regarding whether rates would decline further or stabilize. Bullion traders are largely advising regular buyers to adopt a staggered buying approach—accumulating metal in smaller tranches rather than deploying funds all at once, protecting buyers from subsequent intraday drops. Other jewelers have refrained from forecasting, encouraging customers to decide based on prevailing rates. On Thursday, 24-carat gold closed at ₹1.48 lakh per 10 grams, while silver settled at ₹2.18 lakh per kilogram in Lucknow. According to Chowk Bullion Association Senior Vice President Adish Jain and General Secretary Vinod Maheshwari, buying momentum remained steady on Thursday, driven by favorable pricing ahead of Karva Chauth on October 29. While falling silver prices have drawn strong retail interest, trade representatives noted that a massive near-term crash—such as a ₹10,000 drop per 10 grams—remains unlikely given global market trends. However, for households preparing for upcoming wedding seasons, merchants recommend making planned purchases according to individual budgets and timelines. Post navigation Jio Platforms Launches Landmark $3.2 Billion IPO with Strong Initial Bidding
