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Gold prices rise due to the growing conflict between Iran and Israel. Read more on Dynamite News
Gold Silver Price Surge (Image Source: Internet)
New Delhi: Gold prices in India have touched historic highs amid global geopolitical tensions and uncertainty in the investment market. On Friday, gold was seen trading at a record level of Rs 100,403 per 10 grams with a huge gain of Rs 2,011 on the Multi Commodity Exchange.
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According to the Dynamite News correspondent, the biggest reason for this unexpected rise is believed to be the growing confrontation between Iran and Israel in West Asia. This situation of tension has not only affected the international markets, but the Indian stock market has also come under its grip. In this environment of a falling market, gold has once again emerged as the first choice of investors.
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"TINA Factor"
Experts believe that the "TINA Factor" is playing a major role in the current situation. 'TINA' means 'There Is No Alternative.' Whenever there are instability or war-like situations at the global level, investors' trust goes to safe investment instruments instead of the unstable equity market, in which gold is at the top.
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Rise in gold prices
According to experts, strong spot demand and the start of new contracts by speculators further strengthened the prices of gold in the futures market. Due to this, this rise reached more than Rs 2,000 on Friday. With this rise in gold, the discussion is again gaining momentum that whenever the world is in crisis, gold becomes the most reliable medium of investment.
Huge fluctuations in the stock market
This rise in gold prices has come at a time when huge fluctuations are being seen in the stock market and investors are looking for safe options. If global tensions increase further, then gold prices may go to higher levels in the coming days. Experts advise that in the current scenario, investors should maintain balance in their portfolio and take decisions only after assessing the risk.
