Gold prices have been rising steadily for the past 3 months. However, the situation has worsened since then. Gold prices have been rising for the past few days.
In Chennai, the price of 22 carat gold today rose by Rs 272 per pound to 32096 rupees. 22 carrots One gram of gold It increased to Rs 34 and was sold at 4012 bucks. 8 grams of 24 carat gold is sold for Rs. 33704.
We have contacted Santakumar, state vice-president of the Indian Gold and Jewelery Dealers Association, about the reason for the rise in gold prices. He said, “I have no idea
Gold Price increases Why?
There are basically three reasons for the increase in the price of gold internationally. Not just China, but the world over export and imports have been affected by the global crooning virus. The industrial cycle has also stalled.
Investors around the world have turned to safe investments. They are investing in gold instead of investing in stock markets, real estate and US dollars. Investing in gold for the sake of security has increased the demand for gold.
Second, economic stagnation still continues and investment companies are not concerned. They are regularly investing in gold.
Thirdly, the Indian rupee is depreciating against the US dollar. They are investing in gold.
Furthermore, the demand for gold has increased due to factors such as wedding season at home and buying gold for jewelry for the future. This is one of the reasons why the price of gold is rising in the Indian market.
How long is the price rise?
Gold Price increases It looks like it will run for the next two weeks. The price of gold may change depending on the international market.
Shankumar said so.