Gold Price Today: Gold prices are still sky high. The price of 24 carat gold was above Rs 78 thousand in all major cities on Friday. Gold goes down a little for a few days and then goes up again. In such a situation, global trend also plays a big role in the rise and fall in the price of gold, but if we talk about gold value instead of gold price in India, then it is largely determined by culture rather than the market.
In India, gold is a symbol of wealth and security as a cultural asset. Even if we consider it from investment point of view, priority is given to gold. For this reason, the trend of gold rate in India is decided on the basis of global conditions, currency fluctuations as well as domestic demand.
Gold prices increase during wedding season
Despite the globalization process starting 35 years ago in India, even today the cultural factor dominates the price of gold more than the global factor. Due to this, gold prices increase during wedding season, Akshaya Tritiya, Dhanteras, Diwali etc. Because the demand is very high at that time, the rates automatically start increasing. Apart from this, gold is also demanded for investment as a security symbol to get relief from the fluctuations of the stock market.
Geo-political factor also behind gold rate trend
Geo-political factors also play a big role behind the gold red trend. Wars taking place at different places in the world, political instability, recession prevailing in a particular country play a role as major factors behind the increase in gold rates. The monetary policy of different countries of the world, especially the US Federal Reserve, also plays a role in this. This also affects the gold price in India. Gold is traditionally seen as a hedge in the financial world. As demand increases its price also increases.
The highest price in Agartala was Rs 78,800.
The highest price of gold on Friday was Rs 78,800. Whereas the lowest price in Delhi was Rs 78,290. The price of 10 grams of gold was Rs 78,320 in Kolkata and Rs 78,420 in Mumbai.
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