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On 19 July, the price of 24 carat pure gold in the bullion market of Uttar Pradesh was Rs 99,530 per 10 grams.
Gold price increasing (Source: Internet)
Lucknow: The holy month of Sawan has brought a wave of festivities and spiritual fervor, but it's also stirred up the prices of gold and silver in major cities across Uttar Pradesh. On 19 July, cities such as Lucknow, Kanpur, Gorakhpur, Meerut, Varanasi, and Noida witnessed slight increase in gold prices, while silver prices continued to fluctuate.
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On 19 July, the price of 24 carat pure gold in the bullion market of Uttar Pradesh was Rs 99,530 per 10 grams. At the same time, 22 carat gold is trading at the level of Rs 91,260 per 10 grams. If we talk about 18 carat gold, then it has reached the price of Rs 74,670 per 10 grams. This increase has happened in view of the demand of Sawan and the position of gold in the global market.
While gold is continuously moving towards heights, volatility is also being seen in silver prices. On July 19, the price of silver was Rs 1,13,800 per kg, which shows a slight decline or stability compared to the last few days. However, investors seem to be cautious about this situation.
Gold price may fall (Source: Internet)
Financial experts believe that despite the recent rally, gold prices may fall in the coming days. According to an estimate, 24 carat gold can come up to Rs 95,000 per 10 grams. However, given the volatility of the market, volatility may persist.
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There are several reasons for the change in gold and silver prices such as global economic conditions, dollar movement, interest rates, stock market conditions and fluctuations in domestic demand. The demand for gold increases due to marriage, puja and investment in Sawan, which leads to a rise in prices.
Gold is considered a great way to diversify the portfolio and balance market risk. When the stock market falls, gold prices usually see a rise. This is why investors turn to gold during economic uncertainty or geopolitical tensions. Its high liquidity and global recognition make it quickly convertible into cash.
This news has been published for general information purposes only. Consult your financial advisor before investing in gold and silver. The prices given here depend on market conditions and may change from time to time.
