The banking crisis that started from America has started spreading in other countries of the world as well. Due to this, huge upheaval is also being seen in the stock markets. In the event of financial crisis, people, especially Indians, consider gold as the most preferred option for investment. For the time being, some similar conditions are seen to remain and the price of gold also reached the level of Rs 60,000 per 10 grams for the first time on MCX with a strong jump.
Gold boom due to these reasons
According to market experts Anuj Gupta, the main reasons for the rise in gold prices are Banking Crisis in America and other countries, weakness in dollar, safe haven demand and uncertainty in stock markets. In these circumstances, investment in gold has increased rapidly. Due to the support that gold has received due to the fall in the stock markets, gold, which was trading around the level of 55,000 a week ago, has now reached Rs 60,065 per ten grams. Earlier, its all-time high on MCX was Rs 58,847 per 10 grams.
Gold can touch 62,000 level
According to experts, this rise in gold prices may continue and gold may touch the level of Rs 62,000 per 10 grams in the next month. The fear of increasing interest rates again from the Fed Reserve and the threat of recession due to the US banking crisis have worked to increase the shine of gold. Looking for a safe haven in times of crisis, people are now trusting investment in gold. The effect of the fall in the rupee in the past is also working to increase the prices of gold.
related news
These are the prices of 24 to 18 carats
According to Indian Bullion Jewelers (IBJ), till the time of writing the news, the price of 24 carat fine gold was at the level of Rs 59,670 per 10 grams at 3 pm. At the same time, the price of 22 carat gold has reached Rs 58,240 per 10 grams. The price of 18 carat has reached Rs 48,330. Mostly only 22 carat gold is used for making jewellery, while some people also use 18 carat gold.
The price of gold varies across the country due to excise duty, state taxes and making charges. Hall mark is made on the jewelery according to carat, like 999 is written on 24 carat gold jewellery, 916 on 22 carat, and 750 is written on 18 carat.