New Delhi: The price of gold is at an all-time high for the fifth consecutive day today, i.e. March 20. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold has increased by ₹ 112 to ₹ 88,761. Earlier, yesterday, i.e. Wednesday, March 19, the price of gold was at an all-time high of ₹ 88,649.
On the other hand, the price of silver has fallen by Rs 355 as compared to yesterday, it is being sold at Rs 99,613 per kg. Yesterday, one kg of silver was at ₹ 99,968. On Tuesday, March 18, the price of silver was ₹ 1,00,400 per kg, which is also its all-time high. According to Ajay Kedia, director of Kedia Advisory, gold can go up to ₹ 92 thousand this year.
Gold price in 4 metro cities
- Delhi: The price of 10 grams of 22 carat gold is Rs 83,250 and the price of 10 grams of 24 carat gold is Rs 90,810.
- Mumbai: The price of 10 grams of 22 carat gold is Rs 83,100 and the price of 10 grams of 24 carat gold is Rs 90,660.
- Kolkata: The price of 10 grams of 22 carat gold is Rs 83,100 and the price of 10 grams of 24 carat gold is Rs 90,660.
- Chennai: The price of 10 grams of 22 carat gold is Rs 83,100 and the price of 10 grams of 24 carat gold is Rs 90,660.
3 reasons for the rise in gold
- Geopolitical tensions have increased with Trump becoming the US President.
- Gold is becoming expensive due to the weakening of rupee against the dollar.
- Due to increasing volatility in the stock market, people are increasing their investment in gold.