Gold price again made record high
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gold price: A sharp rise in the price of gold is being seen all over the world. On April 1, the price of gold has reached a new lifetime high level in the international market. On MCX, the price of gold to be delivered on April 5 has reached a record Rs 68,790 with a rise of Rs 1,113. Whereas, the price of gold to be delivered on June 5 has increased by Rs 1,132 to Rs 68,833. The price of gold has also increased in the American market. The price of gold has reached a record level of $ 2,263.53 per ounce. Many reasons are being given for the rise in gold prices in the domestic and international markets.
Why did gold rise?
The question arises why the price of gold has increased so much. We give you the answer to this. Economic instability is being seen all over the world. The ongoing war between Russia and Ukraine in Eastern Europe does not seem to be ending easily. On the other hand, the tension between Israel and Hamas is also troubling the world. In such a situation, investors have become cautious. Gold is seen as a safe investment. In such a situation, investment in gold has increased significantly. Huge purchases of gold are also being made by the central banks of many countries. This is being done to deal with any such emergency. In America, the Federal Reserve has indicated to cut interest rates by up to 3 percent in the year 2024. Interest cut by the Fed will reduce bond yields. In such a situation, gold is being chosen as an investment option.
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Gold is the world’s traditional choice
Gold is liked as jewelery not only in India but all over the world. Amidst geopolitical tension, its demand naturally increases in the world. On the other hand, demand has also increased due to the wedding season in India. There is wedding season in India till the month of June. For this also gold is being purchased. It is expected that the demand for gold may increase by up to 10 percent in this quarter.
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