Gold Latest Rate: The price of gold in the international market reached above $ 2,200 per ounce for the first time in early trading. Spot gold rose 0.7 percent to $2,201.94 an ounce at 9:40 am in Singapore.
Gold Latest Rate: Gold prices reached all-time high on Thursday. In morning trading on America’s MCX, the price of gold reached a historic high of Rs 66,778 per 10 grams. Compared to the previous day, the price of gold increased by Rs 1,028, which is an increase of about 1.5 percent.
In the international market, the price of gold reached above $ 2,200 an ounce for the first time in early trading. Spot gold rose 0.7 percent to $2,201.94 an ounce at 9:40 am in Singapore.
Why are gold prices increasing?
Gold is an attractive investment for investors due to the possibility of low interest rates, which increases its purchase and increases its prices. Rising geopolitical risks and buying by central banks led by China have also boosted the price of gold.
Due to the fear of Russia-Ukraine war and Israel-Hamas conflict spreading to the Red Sea region, investors are seeing gold as an attractive investment.
Demand for gold remains strong in India amid the wedding season, with the precious metal being gifted in large quantities to brides and grooms.
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