Will gold become…? price increased by around Rs 12,000!
Is the price of gold going to cross lakh rupees? Is gold also going to become lakhtakia? This question is because every gold price is touching new historical records. gold prices in the bullion market have reached a new peak due to the strong trend in global markets amid uncertainty over US tariffs, trade tensions and growing expectations of monetary policy easing by the Federal Reserve. The price of gold jumped by Rs 1,300 to a new all-time high of Rs 90,750 per 10 grams, which closed at Rs 89,450 per 10 grams in the previous trading session.
According to the All india Sarafa Sangh, the price of gold of 99.9 percent purity jumped by Rs 1,300 to a new high of Rs 90,750 per 10 grams. In the previous trading session, it closed at Rs 89,450 per 10 grams. According to hdfc Securities Senior Analyst-Commodity Saumil gandhi, several factors have contributed to the record-breaking rise in precious metals, including buying by central banks and global economic instability. gandhi said that apart from this, the demand for assets considered safe has increased due to the trade and economic policies of US President Donald Trump. So far this year, gold prices have increased by Rs 11,360 or 14.31 percent from Rs 79,390 per 10 grams on january 1 to Rs 90,750.
Silver's shine remains intact even after crossing the lakh rupees mark. silver prices also rose by Rs 1,300 to a new all-time high of Rs 1,02,500 per kg. silver closed at Rs 1,01,200 per kg in the previous session. In international markets, spot gold rose by $ 14.48 to $ 2,998.90 an ounce. On Friday, march 14, gold crossed the psychological mark of $ 3,000 an ounce. On Friday, it touched a record high of $ 3,017.10 an ounce.
Chintan Mehta, Chief Executive Officer, Abans Financial services Ltd, said, "Gold prices remain close to record highs as expectations of further interest rate cuts by the US Federal Reserve due to declining inflation." Mehta said geopolitical risks have strengthened bullion prices, as the US confirmed that it will continue attacks against Yemen's Houthis until they stop attacking ships in the red Sea, raising tensions in the region.
