There is a turmoil in the stock market, Gold is creating chaos

Share Market News: The latest conflict between Iran and Israel has shaken the markets around the world. The Indian stock market was completely painted in red today. On the contrary, people's search for a safe haven further increased the shine of the yellow metal i.e. gold. In this way, the price of gold has seen a rise of more than Rs 1500 in a single day.

Gold prices have set a new record of Rs 78,300 per 10 grams. The biggest reason for this is the geopolitical situation and the increasing tension between Iran and Israel. On the contrary, due to the reduction in US bond yield, people's inclination towards gold for safe investment has increased.

Price increased by Rs 1500 in a day

According to market experts, if geopolitical uncertainties increase further, then further increase in gold prices can be seen. According to a news from ET, recently the price of gold has increased by Rs 1,500 per 10 grams. At the same time, the demand of the festive season in India has also brought a tremendous jump in the prices of gold.

The Indian Bullion and Jewelers Association has said that due to the festive season, there is a stir in the jewelry market these days. The festival of Navratri will run till October 12, at such a time people consider buying gold auspicious. Therefore, the demand for gold is also expected to increase. However, seeing the possibility of increase in the price of gold, a trend of pre-booking gold is being seen among the people. While its delivery is being taken during Navratri.

The biggest reason for the increase in people's gold purchases is the upcoming wedding season. It will start in November and will run till February. To meet this increased demand, goldsmiths and artisans are working more than 12 hours. Whereas earlier they were working only in 8-hour shifts.

The time is like China for India

Experts say that this time is like China for India. China has increased its investment in gold in the last few years to avoid inflation. Similarly, Indian people are also moving towards gold now.

Gold market expert Bhargav Vaidya says that if someone was investing 15% of his money in gold earlier, then now he should increase it to 25%. Gold is giving a profit of 18-20% every year.