gold rate today
Before the arrival of the New Year, excitement seems to be increasing in the gold market. On the morning of December 12, gold prices once again went up, due to which the eyes of both buyers and investors are focused on today’s rate. In big cities like Delhi and Mumbai, the price of 24 carat gold is above ₹ 1.30 lakh. In such a situation, the question is arising whether gold will become more expensive before the New Year or can there be relief in prices?
Why are gold prices increasing?
The main reason for the rise in gold in the last few days is the 0.25% cut in interest rates by the US Federal Reserve. When interest rates fall, investors turn to gold as a safe option.
Apart from this, fluctuations in the international market, weakness in the dollar, domestic demand and fall in bond yields have also pushed gold prices higher. The demand for gold increases further during the festive and wedding season of December-January, which has a direct impact on the retail rate.
Gold Price Today: Rates of December 12 in major cities of the country
Silver price also rises
Like gold, silver is also in a strong position at this time. Today the price of silver has reached approximately ₹ 2,01,100 per kg. Due to increasing demand in domestic industries and decrease in international supply, silver rate is continuously increasing.
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How are gold prices decided in India?
Gold prices in India depend on many factors, the most prominent of which are the price of gold in the international market, dollar-rupee exchange rate, import duties and taxes, local demand and supply and wedding-festival season.
Is now the right time to buy gold?
If you are thinking of buying gold for investment, then keep in mind that the price of gold changes daily. It is considered a good option for long-term investment, especially in times of market uncertainty. Still, it is important to check the latest rates before purchasing.