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Due to the increasing trade tension between the US and China, there is a turmoil in the global market. Because of this, investors want to secure themselves. The result of this is that due to this unexpected attitude of Donald Trump, the risk of recession is increasing. The dollar is weakening and the price of gold has reached the seventh sky.
According to the Indian Bullions, the price of gold was being sold at 10 grams per 10 grams at 10 am on April 18 (Friday), which was Rs 94,010 on 11 April. Let us know what are the new rates of gold in Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai and Delhi-
New gold rates
In Mumbai, 10 grams of gold is being sold at the rate of Rs 95,240. While silver is Rs 95,240 per kg. Similarly, the price of gold in Chennai is 95,520. Gold is trading at 95,080 per 10 grams in the national capital Delhi. If you talk about Kolkata, then the price of 10 grams of gold here is Rs 95,110. 95,390 rupees is being sold in Hyderabad, Rs 95,310 in Bengaluru.
Earlier, the price of gold rose by Rs 70 to Rs 98,170 per 10 grams in a new record high level in the national capital’s bullion market on Thursday amidst strong global demand. While 99.9 percent purity on Wednesday gold price It rose by Rs 1,650 to an all -time high of Rs 98,100 per 10 grams.
Gold with 99.5 percent purity also rose by Rs 70 to a new summit of Rs 97,720 per 10 grams, while on Wednesday its closed level was Rs 97,650 per 10 grams. Chintan Mehta, Chief Executive Officer of Abson Financial Services, said, “Gold prices reached a record high due to increasing concerns over the global economic growth after the increasing trade war tension and US President Donald Trump’s fee announcements.”
He said that gold prices continue to rise due to global uncertainty, the US-China trade war supply chains and are increasing the possibility of inflation and recession. Since markets are struggling with these risks, volatility remains, which strengthens the role of gold as a reliable ‘defense’.
