Gold prices (Gold Price today) are seen to be at a high level at this time. The rising gold prices (gold price) for the last two days have made a new record today. The price of 24 carat gold (24ct gold price today) in the domestic market is seen trending above 72 thousand today i.e. on Thursday.
Gold prices have registered a significant rise this week. Gold is trading around Rs 72,435 per 10 grams. It is not even the wedding season yet, despite that gold (Gold Rate) has made a new record.
On Thursday, the price of gold (Gold Rate Today) has seen a rise of up to Rs 200. Apart from gold, silver prices have also seen a rise.
today’s gold and silver prices:
| Gold Purity | Price (Rupees per 10 grams) |
|---|---|
| 24 Carat | 72,435 |
| 23 Carat | 71,450 |
| 22 Carat | 66,351 |
| 18 Carat | 54,326 |
| 14 Carat | 42,375 |
Silver price:
Silver price: Rs 89,843 per kg
What is the reason behind the rise in gold prices?
There can be many reasons behind the rise in gold prices. Some of the major reasons include:
Fears of recession in the US economy: Amid fears of a recession in the US economy, investors have increased investment in gold as a safe haven.
Rise in inflation: The demand for gold is also increasing due to the rise in inflation.
Rise in gold prices in the international market: Due to the rise in gold prices in the international market, the price of gold has also increased in the domestic market.
Will gold prices rise further?
It is difficult to say with certainty what will be the trend in gold prices going forward. However, some experts believe that gold prices may still rise.
Should I buy gold?
Whether to buy gold or not is your personal decision. If you are thinking of investing in gold, you should first assess your financial situation and risk tolerance.
The following are some of the advantages and disadvantages of investing in gold:
Advantages:
Gold is a safe haven, which means that its price may rise when there is a recession or instability in the economy.
Gold prices tend to rise with inflation.
Gold is also used to make jewelry and other decorative items.
Disadvantages:
Gold does not yield any interest or dividends.
Gold prices can fluctuate, causing you losses.
Storing and keeping gold safe can be expensive.
