Continuing its bull run, 24-carat Gold Price on Tuesday climbed by Rs 3,000 to a record high of Rs 1,01,350 per 10 gram in Mumbai in the morning. The yellow metal of 22 carats also surged to Rs 92,900 according to 10 grams. Silver also reclaimed the Rs 1 lakh level to rise at Rs 1,01,000 per kg in Mumbai. Gold prices have been increasing the for the past few months amid international financial uncertainties and US recession fears.
Gold Price Surged in India
On Tuesday, the gold prices in India surged per global trend. In the global market, the yellow metallic surged amid issues over US President Donald Trump’s complaint of Fed Chair Jerome Powell dampening risk sentiment and using buyers towards the safe-haven.
In the international market, spot gold was up 1.4 % at $3,472.49 an oz, as of 0247 GMT, after touching a record high of $3,473.03 per ounce earlier in the session. Known for its unrivaled purity, 24-carat gold keeps to attract buyers searching for top class quality. Meanwhile, 22-carat gold, well known for its sturdiness and timeless appeal, remains a favourite among jewellery fans and investors alike, placing a balance between beauty and practicality.
What Factors Affect Gold Prices In India?
International market rates, import duties, taxes, and fluctuations in trade costs mainly impact gold price in India. Together, these elements determine the each day Gold Price throughout the country. In India, gold is deeply cultural and financial. It is a preferred investment option and is led to celebrations, mainly weddings and festivals.
With continuously changing market situations, traders reveal fluctuations intently. Staying updated is essential for effectively navigating dynamic traits.
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