Gold has reached its all-time high today i.e. on 22 January. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold has increased by Rs 689 to Rs 80,142. Earlier on Tuesday, its price was Rs 79,453 per ten grams. Gold had made an all-time high of Rs 79,681 per 10 grams on October 30 last year but now it has crossed its previous high.
At the same time, the price of silver also increased today. It has increased by Rs 634 to Rs 91,167 per kg. Earlier silver was at Rs 90,533. Silver had made its all-time high on October 23, 2024, when it reached Rs 99,151 per kg.
Gold price in 4 metros
Delhi: The price of 10 grams of 22 carat gold is Rs 75,400 and the price of 10 grams of 24 carat gold is Rs 82,240.
Mumbai: The price of 10 grams of 22 carat gold is Rs 75,250 and the price of 10 grams of 24 carat gold is Rs 82,090.
Kolkata: The price of 10 grams of 22 carat gold is Rs 75,250 and the price of 10 grams of 24 carat gold is Rs 82,090.
Chennai: The price of 10 grams of 22 carat gold is Rs 75,250 and the price of 10 grams of 24 carat gold is Rs 82,090.
Bhopal: The price of 10 grams of 22 carat gold is Rs 75,300 and the price of 10 grams of 24 carat gold is Rs 82,140.
Why gold price has risen?
Geopolitical tensions have escalated following Trump's presidency in the United States.
Recently, the U.S. has lowered interest rates, with the possibility of further cuts. The weakening of the rupee against the dollar is contributing to the rising cost of gold, which is also being supported by increasing inflation. As volatility in the stock market rises, more investors are turning to Gold ETFs.
Gold price rise by 20% in 2024
In 2024, gold price rose by 20.22%, while silver saw a rise of 17.19%. The previous year, gold prices rose by 20.22%, and silver prices increased by 17.19%. On January 1, 2024, the price of gold was Rs 63,352 per 10 grams, climbing to Rs 76,162 per 10 grams by December 31, 2024. During the same period, the price of silver per kilogram rose from Rs 73,395 to Rs 86,017.
Gold price likely to reach 85000 by June
Ajay Kedia, director of Kedia Advisory, predicts that gold could reach Rs 85,000 per 10 grams by June. Following a significant rally, he noted that a decline in gold prices was anticipated, which has already occurred. With interest rate cuts in both the U.S. and the UK, demand for Gold ETFs is expected to rise, potentially driving gold prices higher by the end of June.
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