Going by a recent assessment made by Associated Chambers of Commerce and Industry of India (Assocham), yet another rise in gold prices is expected during the forthcoming festive season - most likely by Rs 2,000 per gram, from the current Rs 16,000 to Rs 18,000.

Noting that, of late, the investors have become used to the high gold prices, Assocham said that gold happens to be the only commodity to witness enormous upsurge in the exchange traded funds (ETF).

The association President Sajjan Jindal remarked that the price rise would become increasingly apparent once gold prices in global markets convincingly stay above the psychological barrier of $1,000 per ounce; and with the festival season demand and low international production only further boosting gold prices.

With reference to the two-fold increase in the trading volumes in gold ETF counters at the National Stock Exchange, Jindal added: "The bullion is likely to gradually see spurt in its prices and stay around Rs 18,000 per 10 gram by Diwali. The high valuations of stocks and the attendant risk have by and large motivated investors to part shift to gold as an investment class."

Suggesting that the best way to buy gold was to get .999 purity gold bars directly from Singapore or Dubai, Assocham said that during these abnormal times, investment in gold can be increased 10-15 percent, though normally it should be around 5 percent!