Gold price: Gold prices across the country again jumped on Monday and came into discussion. According to the data of the India Bullion Association, the price of gold reached Rs 1,09,820 per 10 grams, which is very close to the psychological level of Rs 1,10,000. On Saturday, its price was Rs 1,09,800, while recently it has crossed Rs 1,09,000 and climbed above Rs 1,09,400. This rise has caught the attention of investors and customers.
Demand increased due to global tension and expectations of an interest rate cut
Experts believe that this surge in demand for gold is not only due to local reasons. Increasing geopolitical tension and expectations of interest rate cuts globally, including in America, have led investors to gold in search of a safe option. Commodity expert Anuj Gupta explains that “When economic uncertainty increases, investors express their trust in gold to reduce risk.” Due to this, gold futures prices have also reached record levels.
Gold shines in the big cities of the country
In New Delhi, gold stood at Rs 1,09,430 per 10 grams on Monday. At the same time, its price in Mumbai was Rs 1,09,620. Talking about South India, the price of Rs 1,09,710 was recorded in Bengaluru, and the highest price of Rs 1,09,940 per 10 grams was recorded in Chennai. In Kolkata, it is trading at Rs 1,09,470. Thus, the shine of gold is making new records all over the country.
Global market stability and record prices
According to the World Gold Council, the spot price of gold in the international market remains stable at $ 3,632 per ounce. This price remains around the previous highest level. The futures price of gold for October 3 on the Multi-Commodity Exchange was found to be stable at Rs 1,09,356. This stability has further strengthened the confidence of investors.
Silver is also not far behind – price rise
Along with gold, the price of silver is also increasing. According to the Indian Bullion Association, the price of silver has increased to Rs 1,28,730 per kg. On Saturday, it was at Rs 1,28,710. At the same time, the price of silver futures for October 5 on the Multi-Commodity Exchange is trading at Rs 1,28,840.
What’s next?
This ongoing rise in the prices of gold and silver is both an opportunity for investors and a need for caution. Experts believe that if geopolitical tensions and economic uncertainty persist, gold can touch the level of Rs 1,10,000. At the same time, this is the time for cautious investment for customers and investors.