Gold Price Today / Gold became costlier by 6000 rupees in April, will it reach a record of one lakh?

Gold prices have reached record levels in Delhi. In April, gold became costlier by Rs 6,000 and reached Rs 98,170 per 10 grams. Trade war and global uncertainty are the reasons for this. According to experts, gold prices may rise further.

Gold Price Today: Gold prices have once again set a new record in the country's capital Delhi. By mid-April, gold prices have reached Rs 98,170 per 10 grams, which is the highest level ever. This boom has surprised investors, but has also given them attractive returns. In April alone, the price of gold has seen a jump of more than Rs 6,000, which reflects an increase of about 6.5 percent.

What is the reason for the boom?

There are many global and domestic reasons behind this boom. The most important reason is global economic uncertainty and the growing trade war tension between the US and China. US policies, especially the import duties imposed by then President Donald Trump, are affecting global supply chains. This is increasing inflation and the fear of economic recession is also deepening.

Chintan Mehta, CEO of Abans Financial Services, says that the weakening dollar, trade war and global instability are making gold a safe investment option. This is the reason why investors are increasingly turning towards gold. Major banks have also adopted a positive stance towards gold, which indicates withdrawal from the equity and bond markets.

How far have the prices reached in Delhi?

According to the All India Sarafa Association, gold with 99.9% purity in Delhi has reached Rs 98,170 per 10 grams, while gold with 99.5% purity has also reached Rs 97,720 per 10 grams. At present, there has been a slight decline in the prices of silver, and it has come down to the level of Rs 98,000 per kg, which closed at Rs 99,400 per kg in the last session.

Global market movement

Gold also touched a record level in the international market. Spot gold reached $3,357.81 an ounce, the highest level so far, although it later declined and was seen trading at $3,328.84. Spot silver, on the other hand, fell 1.37% to trade at $32.32 an ounce.

Will gold rise further?

Experts believe that this uptrend is not going to stop. According to Kaynat Chainwala of Kotak Securities, the statement given by US Federal Reserve chief Jerome Powell, in which he warned of global economic risks, has increased caution among investors. At the same time, Saumil Gandhi of HDFC Securities says that investors are keeping an eye on the data related to US unemployment and manufacturing, which will decide the direction of gold.