look news india
New Delhi: If you are planning to buy gold or silver, then there is a very important news for you. On the auspicious occasion of the full moon day of Chaitra, the first month of the Hindu New Year, the shine of gold and silver has become brighter in the bullion market. The direct impact of the war raging between America, Iran and Israel in the Middle East is now clearly visible on the bullion market. Due to geopolitical tensions and global uncertainty, the demand for precious metals as ‘safe investments’ has suddenly increased, due to which a huge jump in prices is being recorded.
Gold soared for the fourth consecutive day
Amidst global pressure, gold prices in the Indian market have increased for the fourth consecutive day. In the capital Delhi today, a slight increase of ₹ 10 per 10 grams has been seen in both 24 and 22 carat gold. But, if we look at the trend of the last 5 days, this surge is quite scary. Within just 5 days, 24 carat gold has become costlier by ₹ 4,870 and 22 carat gold by ₹ 4,460 per 10 grams.
Latest gold rates today (per 10 grams) in 10 big cities of the country
Delhi, Lucknow, Jaipur: 24 carat- ₹1,53,110 | 22 carat- ₹1,40,360 | 18 carat- ₹1,14,870
Mumbai, Kolkata, Bengaluru, Hyderabad: 24 carat- ₹1,52,960 | 22 carat- ₹1,40,210 | 18 carat- ₹1,14,720
Chennai: 24 carat- ₹1,53,280 | 22 carat- ₹1,40,510 | 18 carat- ₹1,17,110
Patna, Ahmedabad: 24 carat- ₹1,52,010 | 22 carat- ₹1,40,260 | 18 carat- ₹1,14,770
Silver also broke records, price crossed Rs 2.55 lakh
Along with gold, white metal i.e. silver is also giving strong returns to investors. After the calmness of the last two days, silver prices have increased again today. You will be surprised to know that in the last 3 days, one kg of silver has become costlier by ₹ 10,100. Today, after an increase of ₹ 100, the price of 1 kg silver in metros like Delhi, Mumbai and Kolkata has reached ₹ 2,55,100. At the same time, people of Chennai have to pay the maximum of ₹ 2,65,100 for this.
What is the experts’ opinion next: will the prices fall or rise further?
In recent times, gold prices have come down slightly from the record high, but market experts are considering this as a ‘golden chance’ for investors. Fidelity International’s money manager George F. Stathopolak says that the decline in gold should be seen as a big buying opportunity. He believes that there are many ‘structural factors’ like increasing pace of inflation across the world, fiscal pressure on governments and credibility of the bond market, which will give further strength to gold in the future.