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3 April 2024, Gold prices hit a new high due to tensions in West Asia, reaching Rs 68,500 per 10 grams in Mumbai. This surge was driven by safe-haven demand amid geopolitical unrest. Silver prices also rose to Rs 75,500 per kg. Experts attribute the increase to factors like short covering and momentum trading. Gold’s value has risen by almost 10% this year, showing strong demand from retail and central banks alongside speculators.
30 March 2024, Gold prices are on a tear! After crossing $2,200 an ounce for the first time, gold reached a new high of $2,236 this week. That’s a 9.3% increase this month, the biggest since July 2020!
In India, gold is now above Rs 70,000 per 10 grams. This rise might continue due to buying by central banks and technical factors. The bad news? This high price is hurting jewelry sales, which are down to just 30% of normal levels.
