Recently, gold prices have gone up massively in India owing to the ongoing conflict in the Middle East, and the upcoming elections in the United States have given a new high to safe-haven investment. Currently, the price of 22K gold has increased from the previous level by ₹400 per 10 grams and is available at ₹73,400. Also, 100 grams of 22K gold has gone up by as much as ₹4,000 and costs as much as ₹7,34,000 now.
Particularly worthy of attention, the price of the 24K gold has grown to outrun the ₹80,000 level to reach 80710 per 10 grams after an increase of ₹430. Another rise is noticeable in the price of 100 grams of 24K gold, which has gone up by ₹4,300 to ₹8,00,700. This upward trend of gold prices is conspicuous, especially when the Diwali festival is around the corner it will be celebrated in India on 31st October, 2024.
From October 24, 2023, gold prices recorded a significant rise, and the price of 22K gold rose by approximately 29.8%. Taking a closer look at the prices, the price for 1 gram of 22K gold on October 24, 2023, was ₹5,655, and today it weighs ₹7,340, showing the surge. At present, the price of 1gm 22K gold is ₹7,340 after an enhancement of ₹40, and 1 gm 24K gold is ₹8,007 after an enhancement of ₹43. Besides, the price per gram of 18K gold has risen to ₹6,006 after a ₹33 appreciation.
The current rise in the price of gold is attributed to the relatively high demand for precious metals triggered by geopolitical instabilities and markets, a factor that will function very handy in Diwali investment.
Check here for the latest updates in Hindi!