Gold Price: After seeing a continuous decline in gold prices for several weeks, now a new picture is emerging in the market. With the beginning of the month of July, there has been a significant change in the price of gold. After the slowdown in the past few days, now the price of gold is showing an upward trend. This change is not only a matter of relief for investors, but it is also a sign of new activities in the Indian bullion market.
According to market experts, this boom is the result of several factors. The main reasons for this are the increase in demand for gold in the international market, geopolitical tensions, and uncertainty in the global economic situation. In the Indian market too, the demand for gold is increasing due to preparations for the festive season and the beginning of the wedding season.
current price of 24 carat gold
The price of 24 carat gold has seen an increase of about thousand rupees today. The average price of 24 carat gold at the national level has reached Rs 98,500 per 10 grams. This increase is quite significant compared to the last few days. There is a slight difference in its prices in different cities.
The price of 24 carat gold in the national capital Delhi is Rs 98,560 per 10 grams. In the financial capital Mumbai, it is Rs 98,410 per 10 grams. Similar rates are being seen in Chennai and Kolkata as well. The price of 24 carat gold in Jaipur is Rs 97,560 per 10 grams, which is slightly lower than other cities.
22 carat gold status
The prices of 22 carat gold are also witnessing a similar rise. According to the national average, the price of 22 carat gold is more than Rs 90,300 per 10 grams. This is the gold that is usually used in making jewellery. Due to its purity being less than 24 carat, its price is also less.
The price of 22 carat gold in Delhi is Rs 90,360 per 10 grams. In Mumbai, Chennai, Kolkata and Bangalore it is Rs 90,210 per 10 grams. In Noida, Lucknow and Ghaziabad of Uttar Pradesh, the price of 22 carat gold is Rs 90,360 per 10 grams. In Patna too, it is Rs 90,210 per 10 grams.
Tremendous jump in silver prices
Along with gold, silver prices have also seen a tremendous rise today. The price of silver has increased by a huge Rs 3,000 per kg. With this increase, the price of silver has gone up to Rs 1,10,700 per kg. This increase is in a higher percentage than gold.
This surge in silver prices is due to the growing demand for industrial use and its popularity for investment. Silver is not only used in making jewellery, but it also has wide applications in electronics, solar panels and other industrial products. It is also becoming increasingly popular as an alternative investment.
Factors affecting prices
This fluctuation in the prices of gold and silver is a result of many important factors. International trade policy, geopolitical conditions, and global economic conditions are the main reasons for this. The exchange rate of the dollar and rupee also affects these prices.
Import duties and other taxes imposed by the government also have a significant impact on prices. Inflation rates, central bank policies, and the global demand-supply balance also play a role in determining these prices. Gold and silver are considered safe investments in times of inflation.
Tips for investors
Investors should be cautious in the current situation. This sudden rise in prices may be temporary. It is important to understand market trends for long-term investment. Small investors should avoid buying large amounts at once.
Experts suggest that it may be better to invest in gold through a Systematic Investment Plan (SIP). This reduces the risk of price fluctuations and can provide better returns in the long run.
Disclaimer
This article is provided for general information purposes only. Gold and silver prices vary depending on market conditions. It is advisable to seek expert advice before making investment decisions. The author and publisher are not responsible for any investment losses.
