Gold Crosses ₹80,000, Silver Also Rises: Know the Reasons
Amid fluctuations in the global market, the domestic market has once again witnessed a surge in the prices of precious metals like gold, which has crossed the ₹80,000 per 10 grams mark. Similarly, silver has also strengthened, with an increase of up to ₹500.
The impact of rising gold prices in the international market is being observed in the domestic market as well. The primary reasons behind this price hike include the weakening of the US dollar and investors viewing gold as a safe investment option. Additionally, geopolitical tensions are also a major factor contributing to the rise in prices, as investors consider gold a stable and secure investment during times of uncertainty.
Silver, which is used for both industrial purposes and jewelry-making, has also seen a price hike similar to gold. Furthermore, the ongoing wedding season has increased the demand for gold, leading to a rise in the prices of both gold and silver.
Analysts believe that if global instability persists and inflation continues to rise, gold prices may increase even further.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Please consult a financial advisor before making any investment decisions.
Amid fluctuations in the global market, the domestic market has once again witnessed a surge in the prices of precious metals like gold, which has crossed the ₹80,000 per 10 grams mark. Similarly, silver has also strengthened, with an increase of up to ₹500.
The impact of rising gold prices in the international market is being observed in the domestic market as well. The primary reasons behind this price hike include the weakening of the US dollar and investors viewing gold as a safe investment option. Additionally, geopolitical tensions are also a major factor contributing to the rise in prices, as investors consider gold a stable and secure investment during times of uncertainty.
Silver, which is used for both industrial purposes and jewelry-making, has also seen a price hike similar to gold. Furthermore, the ongoing wedding season has increased the demand for gold, leading to a rise in the prices of both gold and silver.
Analysts believe that if global instability persists and inflation continues to rise, gold prices may increase even further.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Please consult a financial advisor before making any investment decisions.