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Gold Price Hike: Is the price of gold going to cross a million rupees? Is gold also going to be a luxury? Question from this because every gold price is touching the new historical record. Gold prices have reached a new peak in the bullion market due to a strong trend in global markets amidst the increasing expectations of trade tension and federal reserves by the Federal Reserve regarding American tariffs. The price of gold rose by Rs 1,300 to a new alltime high of Rs 90,750 per 10 grams, which was closed at Rs 89,450 per 10 grams in the previous business session.
According to the Akhil Bhariya Sarafa Association, the price of gold with 99.9 percent purity rose by Rs 1,300 to a new high of Rs 90,750 per 10 grams. It closed at Rs 89,450 per 10 grams in the last trading session. According to HDFC Securities Senior Analyst-Jins Soumil Gandhi, many factors have contributed to a record-torrent of precious metals, including purchases and global economic instability by central banks. Gandhi said that in addition, the demand for assets to be considered safe due to trade and economic policies of US President Donald Trump has increased. So far this year, gold prices have increased from Rs 79,390 per 10 grams to Rs 11,360 or 14.31 percent to Rs 90,750 on January 1.
Even after crossing lakhs of rupees, silver shine remains intact. Silver prices also rose by Rs 1,300 to a new all -time high of Rs 1,02,500 per kg. In the last session, silver closed at Rs 1,01,200 per kg. In international markets, spot gold rose by $ 14.48 to $ 2,998.90 an ounce. On Friday 14 March, gold crossed a psychological level of $ 3,000 an ounce. On Friday, it touched a record high level of $ 3,017.10 an ounce.
Chintan Mehta, Chief Executive Officer of Absan Financial Services Limited, said, “Due to decrease in inflation, the US Federal Reserve due to increased expectation of further cuts in interest rates gold priceRecords remain close to height. “Mehta said that geopolitical risks have strengthened the prices of bullion, as the US has confirmed that it will continue the attack against Yemen’s huts until they stop attacking ships in the Red Sea, which has increased tension in the area.
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