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Gold prices have been experiencing a strong rally since the start of the new year, as volatility and initial declines in the equity markets have prompted investors to seek safer investment options.
Average gold prices released
New Delhi: Gold prices in Delhi have seen another rise today. The price of 24-carat gold was recorded at Rs 12,523 per gram, while the price of 22-carat gold was recorded at ₹11,480 per gram. Furthermore, the rate of 18-carat gold (also known as 999 gold) was Rs 9,396 per gram.
Gold prices have been experiencing a strong rally since the start of the new year, as volatility and initial declines in the equity markets have prompted investors to seek safer investment options.
Why is gold rising?
Investment experts believe that the stock market witnessed weakness earlier this year, after which investors began purchasing gold as a safe haven.
Gold prices had been range-bound for the past few years, but current economic conditions and increased investment demand have revived its prices. Due to this, gold prices are continuously rising in major cities across the country, including Delhi.
Average gold prices in Delhi
The average gold prices in Delhi over the past 10, 20, and 30 days have fluctuated slightly.
The average price of 24-carat gold in Delhi over the past 10 days was Rs 12,485.30 and 22-carat gold at Rs 11,446, while the average price in the 20 days was Rs 12,367.95 and Rs 11,338.65, respectively.
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Over the 30-day period, the average price of 24-carat gold increased to Rs 12,493.13 and 22-carat gold to Rs 11,453.27.
These figures indicate that despite slight fluctuations in gold prices over the past month, the market remains positive, with stability observed in both the 24-carat and 22-carat categories.
If you're considering buying gold, keep these things in mind:
Gold prices depend on the international market, the dollar index, and domestic demand.
Always look for the BIS hallmark to verify purity.
Making charges and wastage may vary in the price of coins and jewelry.
Gold ETFs, digital gold, and sovereign gold bonds are also considered good investment options.
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What's expected in the market ahead?
Experts predict that if stock market volatility continues, gold prices may rise further. Global economic conditions, dollar movements, and changes in interest rates will also have a significant impact on prices.
Looking at the current gold prices in Delhi, this time is considered attractive for investors, especially those looking for safe investments.
