Gold Silver Price: Gold prices are increasing rapidly due to weddings, volatility in the stock market, the impact of international events and increased demand in the bullion market. It is seen that gold prices have increased since January. Now buying gold is becoming unaffordable.
The value of the rupee is falling day by day against the dollar. While the value of 1 dollar has reached almost 87 rupees, now the prices of gold and silver have reached a new high. Gold has reached a record breaking price even before Holi.
Gold prices rose by Rs 400 on Monday to touch Rs 85,000 per tola. 24 carat gold hit a new high, setting an all-time high, gold has set a new record.
Gold prices are rising rapidly due to weddings, volatility in the stock market, the impact of international events and increased demand in the bullion market. Gold prices have been rising since January. Now buying gold is becoming unaffordable.
The decline in the stock market and gold being considered a safe investment option have further accelerated this price increase. According to the All India Sarafa Association, the price of gold in Delhi has reached Rs 85,300 per 10 grams.
This rate is a new high after the previous record prices. Gold prices in India are continuously increasing due to global tensions and the depreciation of the dollar. Gold is considered a ‘safe investment’, so people have also seen a shift from the stock market to investing in gold and silver in the past few years.
Along with gold, silver prices have also risen. On Monday, the price of silver increased by Rs 300 to Rs 96,000 per kg. There has also been a significant increase in demand for silver in the bullion market.
Traders said the increase was due to increased demand for silver for industrial use and jewelry. Unstable global economy, inflation and changes in interest rates by central banks are having a direct impact on gold prices.