📷 Image: Wikimedia Commons / Gujarat/Surat Mughal workshop for the Indo-Portugu
Business
Gold Buyers Flock to Ahmedabad, Surat, Rajkot as Prices May Hit ₹2 Lakh in Six Months
✍️ Bhaskar English
🗓 29 Oct 2026, 08:03 AM
👁 12
Anticipating a rise to ₹2 lakh per 10 grams within six months, gold buyers in Gujarat’s major cities are accelerating purchases, especially in Ahmedabad, Surat and Rajkot.
Gold dealers across Gujarat report a noticeable surge in purchases as market analysts project the price of 10 grams of gold could touch ₹2 lakh within the next half‑year. The expectation of such a steep increase has prompted buyers to act quickly, seeking to lock in current rates before the anticipated rise.
In Ahmedabad, the state’s largest commercial hub, jewellery shops have reported higher footfall and larger transaction volumes compared with the same period last year. Similar trends are evident in Surat, a major centre for diamond and gold trade, and in Rajkot, where local retailers say demand has outpaced supply in recent weeks.
The buying spree appears to be driven by a combination of factors, including the approach of major festivals and wedding season, which traditionally boost gold demand, as well as speculation about future price hikes. Traders caution that while the market outlook is bullish, buyers should remain aware of price volatility.
Industry observers note that if the price does reach the projected ₹2 lakh mark, it would represent one of the steepest climbs in recent history, potentially reshaping purchasing patterns ahead of the festive period.
In Ahmedabad, the state’s largest commercial hub, jewellery shops have reported higher footfall and larger transaction volumes compared with the same period last year. Similar trends are evident in Surat, a major centre for diamond and gold trade, and in Rajkot, where local retailers say demand has outpaced supply in recent weeks.
The buying spree appears to be driven by a combination of factors, including the approach of major festivals and wedding season, which traditionally boost gold demand, as well as speculation about future price hikes. Traders caution that while the market outlook is bullish, buyers should remain aware of price volatility.
Industry observers note that if the price does reach the projected ₹2 lakh mark, it would represent one of the steepest climbs in recent history, potentially reshaping purchasing patterns ahead of the festive period.