Gold prices in the international markets reached an all-time high today. The price of 24-carat gold in India reached a record high of Rs 75,280 for 10 grams, equaling to Rs 7,528 per gram.
The rate for 22-carat gold on the other hand was recorded at Rs 69,007 for 10 grams. This upward rise in gold prices could be influenced by the less strict monetary policy and increased geopolitical risks. The price surge has also been driven by the Fed’s interest rate cut last week.
As of Wednesday, the gold rate in New Delhi is trading at Rs 75,150 per 10 grams, an increase by Rs 760 from yesterday. In Mumbai the rate is Rs 75,280 per 10 grams, whereas in Kolkata and Chennai the rate is Rs 75,180 and Rs 75,500 per 10 grams respectively.
All over West Asia, the gold prices increased by 1 per cent. The gold price (XAU/USD) is trading at USD 2,662 after hitting an all-time high of USD 2,664.
Rising geopolitical tensions in the Middle East have increased demand for gold as a safe investment, pushing its price to new highs.
