Gold Price Update: Gold rates have rocked the Indian bullion markets. The price of gold in the global market has reached $3600 per ounce. According to the Goldman Sachs report, if prices continue at the current pace, the next year’s price could reach $ 4,500. Festivals are also about to start. You must have noticed that the demand for gold and silver increases a lot during the festival time. Most people buy gold jewellery. There is a constant fluctuation in the gold price at this time.
The price of gold in the country is expected to reach close to Rs 1.45 lakh. If some bullion experts are to be believed, the gold rates can reach the seventh sky on Diwali. This is sure to spoil the pocket budget of the customers. Last year, the gold rates on Dhanteras were around ₹ 80,000.
What will be the price of gold on Dhanteras?
Bullion market experts are estimating that gold can touch the level of Rs 1.25 lakh on Diwali. If this happens, we can expect an increase of approximately 45,000 rupees compared to last year. Gold is being sold at its highest level in the Indian markets amid strength in the global market. Most people buy gold on the occasion of Dhanteras. There is a belief in Hinduism that buying gold on Dhanteras is very auspicious.
The price of gold is being recorded at an all-time high of Rs 1,12,750 per ten grams with a jump of Rs 5,080. Apart from this, the rate of silver has also jumped by Rs 2,800 to a record Rs 1,28,800 per kilogram. The All India Sarafa Association has also shared this information.
How much has the price of gold jumped?
The price of gold in the Indian market has increased by more than 35 per cent since January. It has reached around $ 3600 per ounce in the global market. The price in the country has now gone beyond Rs 1.12 lakh. According to experts, gold rates are being recorded at sky-high levels due to global reasons.