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Gold and silver prices have declined today i.e. October 3. According to the India Bullion and Jewelers Association (IBJA), 10 grams 24 carat gold declined by Rs 500 to Rs 1,16,833. At the same time, the price of silver has also fallen by Rs 110 to Rs 1,45,010 per kg. On 1 October, gold made an all -time high of Rs 1,17,332 and silver by Rs 1,45,120.
Gold this year became ₹ 40,671 and silver ₹ 58,993 expensive
- So far this year, the price of gold has increased by about Rs 40,671. On 31 December 2024, 10 grams 24 carat gold was Rs 76,162, which has now been Rs 1,16,833.
- The price of silver has also increased by Rs 58,993 during this period. On December 31, 2024, the price of one kg of silver was Rs 86,017, which has now increased to Rs 1,45,010 per kg.
Gold can go up to 1.55 lakh rupees
According to a recent report by Goldman Sachs, the bank has targeted $ 5000 an ounce for gold till next year. According to the current exchange rate, it will be about Rs 1,55,000 per 10 grams. Sandeep Raichura, director of brokerage firm PL Capital, said that gold can go up to Rs 1,44,000 per 10 grams.
5 major reasons, due to which there is a possibility of speed in gold …
1. Central bank shopping: Large banks around the world want to reduce dependence on dollars. Therefore, they are constantly increasing the gold part in their treasures.
Affect: When the big banks buy continuously, the demand for gold in the market remains and the price goes up.
2. ‘Trump Factor’ and Policy-Uncertainty: There is uncertainty about the policies of America. The interference on the Federal Reserve weakens the dollar-bond market.
Affect: Investors find safe investment and run towards gold. This causes gold prices to rise.
3. Crypto towards gold: Investors are investing money in gold due to fluctuations in crypto and fear of strict rules. Low returns from the stock market in India also made gold attractive during the recent few times.
Affect: The demand for gold rapidly rises prices.
4. Deadroarization: Many countries are changing their economic models by reducing the use of dollars. Debt on America is increasing and the dollar is weakening.
Affect: If the dollar is weak, gold increases.
5. Long-Term Asset: Gold is never completely useless. It is not destroyed, limited and saves its price at the time of inflation.
Affect: It is mostly beneficial to keep gold in a long time.
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