On Monday, the price of gold reached a record high in hyderabad, where 10 grammes of 24 carat gold was retailing for Rs 69,380. This is the most expensive price the city has seen in the previous 12 months. The price of 10 grammes of 24 carat gold in hyderabad on march 31, the day before, was Rs 68,450, demonstrating a notable rise in only one day.
 
Experts in the field believe that rising geopolitical tensions, especially in Central Asia, are to blame for the current spike in gold prices. The upward trend in gold markets has also been aided by a recent signal from the US Federal Reserve suggesting a possible rate drop. Analysts claim that the worldwide increase in geopolitical dangers and the significant purchases made by central banks—China being the most prominent—have contributed to the gold price's upward trend.
 
Geopolitical instability has increased due to the ongoing war between russia and ukraine and the spread of the Israel-Hamas conflict to the red Sea area. In a situation like this, investors are beginning to view gold as a safe haven asset, which is raising demand and prices. Analysts predict that gold prices will remain volatile as investors flee the instability of international politics.
 

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Telangana Hyderabad

G GOWTHAM

02/04/2024 10:51 AM