The price of gold has skyrocketed. The price of 10 grams of 24-carat gold has crossed ₹90,000. This has made people afraid even to mention the name of gold. However, the price of gold has slightly decreased in the last two days.
Gold and Indians are inseparable. Many people think that having gold at home gives them confidence. Therefore, many people think of buying a little gold even if they get a bonus at work or get money in any other form. That's why gold has so much demand. Currently, the price of gold is increasing significantly. The price of one sovereign of gold has crossed ₹90,000, which has never happened before.
But as news came that it would reach ₹1 lakh, there has been a slight decrease in the price of gold. Currently, one ounce of gold (31.10 grams) is at $3023. This price was $3050 two days ago. But as the value of the rupee is increasing compared to the dollar, the price of gold is calming down a bit. The price of gold has been gradually decreasing by up to ₹400 for the past few days.
Even so, the price of 10 grams of gold has not come below ₹90,000 yet. Currently, the price of 24-carat gold is ₹90,210. The price of gold is likely to fall soon. Factors such as the Federal Reserve keeping interest rates stable and the Russia-Ukraine war reaching peace are expected to reduce the price of gold. According to Citi Bank's forecast, the price of gold will be $3500 an ounce by the end of 2025.
The possibility of the war situation between Russia and Ukraine decreasing and Trump taking a step in this direction may have an impact on the global market. The number of people investing in gold increased as stock markets fell. Due to this, the price of gold increased. Currently, as negotiations are underway between Russia and Ukraine, there are chances of the war coming to an end. Due to this, stock markets are rising. Experts say that the falling price of gold is proof of this. According to one estimate, the price of one ounce of gold in the international market is likely to decrease to $2800 in the coming days.
According to this calculation, there are opinions that the price of gold is likely to decrease by ₹16,000. In a video released on his YouTube page, popular economic advisor Anand Srinivasan said that 22-carat gold has increased by ₹200 in the last 6 days. 24-carat is about to reach 10 thousand. He said that he did not expect it to increase so quickly.
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