September 28, 2024 – Gold prices in India witnessed a significant surge today, with the precious metal touching ₹7,144 per gram for 22-karat gold and ₹7,622 per gram for 24-karat gold.
Key Highlights:
- 22K Gold: ₹7,144 per gram
- 24K Gold: ₹7,622 per gram
- 1 gram: ₹7,144 (22K), ₹7,622 (24K)
- 10 grams: ₹71,440 (22K), ₹76,220 (24K)
- 1 tola (11.6638038 grams): ₹83,477.79 (24K)
Market Analysis:
Experts attribute the price hike to global economic uncertainty, geopolitical tensions, and a weakening rupee. “Gold is considered a safe-haven asset, and investors are flocking to it amidst market volatility,” said Rajesh Mehta, a leading bullion trader.
Gold Price Today: What to Expect?
Industry experts advise investors to consider gold as a diversification tool in their portfolios. “Gold has historically performed well during times of economic uncertainty, making it an attractive investment option,” said Amit Singh, a financial analyst
Global Gold Price:
Internationally, gold prices have breached the $1,800 per ounce mark, fueled by a decline in US Treasury yields and a softer dollar.
Investment Advice:
Industry experts advise investors to consider gold as a diversification tool in their portfolios. “Gold has historically performed well during times of economic uncertainty, making it an attractive investment option,” said Amit Singh, a financial analyst.
Future Outlook:
The gold price is expected to remain bullish in the short term, driven by global economic factors and festive season demand in India.
Related News:
- RBI allows banks to import gold under Medium and Long-Term Export-Import Policy
- Government reduces import duty on gold to 10%
Sources:
1) World Gold Council
2) Indian Bullion and Jewellers Association