In Brief
Gold market surges again
What is causing the increase in gold prices?
What is causing the increase in gold prices?
After the decline in gold prices just before Diwali, the gold market is once again shining brightly. A few days ago, gold prices had dropped directly from 130,000 rupees to 120,000 rupees. However, there is now an increase in these prices, with a significant jump of 2,600 rupees recorded in the last 24 hours. Currently, excluding GST, gold prices have reached up to 126,500 rupees. (Gold Prices)
This rapid increase in gold has created confusion among investors. Because in the past few days, market analysts had predicted that gold prices would fall further. However, the opposite situation has been observed. Gold prices have increased by about 5,000 rupees in just three days, leaving both buyers and investors in a dilemma of 'Should we stop, should we buy?'
What is the exact price of gold?
According to the latest figures from the Bullion Association, the price of 24-carat gold per ten grams is 127,170 rupees. 24 hours ago, this rate was 124,230 rupees, which means there has been an increase of approximately 2,940 rupees. The price of gold per tola has reached 148,329 rupees. The price of silver per kilogram is 165,090 rupees. Yesterday, the price of silver per kilogram was 156,010 rupees, indicating an increase of 9,000 rupees. This 'rising rate' of gold has become a topic of new curiosity and confusion in the market. According to analysts, the price of gold will depend on international market movements over the next week.
What is causing the rise in gold prices?
Analysts say there are several reasons behind this increase in gold prices. The weakening of the rupee against the dollar in the international market has made imported gold more expensive. Additionally, geopolitical tensions in the Middle East and uncertainty in the interest rate policy of the American Federal Bank have led investors to turn to gold as a safe investment once again.
In India, traditionally, the demand for gold increases significantly during festivals and the wedding season. Since the wedding season continues after Diwali, the demand in the market remains steady. Jewelers say that this increased demand has also affected the prices. Meanwhile, the constant fluctuations in gold prices have posed a major challenge for small investors. Although many purchased during the Diwali period when prices were low, the current increased prices have raised the question of whether to take profits now or wait further.