Gold prices in India rose today, as reported by FXStreet. The price for gold increased across various units, reflecting a global trend of rising demand for the precious metal.
Gold Price per Gram: INR 8,403.31, up from INR 8,368.14 the day before.
Gold Price per 10 Grams: INR 84,033.12, showing an increase compared to INR 83,681.40 on Monday.
Gold Price per Tola: INR 98,014.58, up from INR 97,604.33 per tola.
Gold Price per Troy Ounce: INR 261,372.40, continuing the rise in the value of gold globally.
These rises are driven by a combination of geopolitical instability, economic concerns, and continued market uncertainty. The price movements come amid heightened tensions in the Middle East, particularly the ongoing conflict between Israel and Hamas in Gaza. The situation has raised fears of further escalation, which often leads investors to turn to safe-haven assets like gold.
In addition to the geopolitical risks, there are growing concerns over a potential economic slowdown. US Treasury Secretary Scott Bessent expressed concerns that the US economy might not avoid a recession, fueling further demand for gold as a safe store of value. This, combined with data showing weaker-than-expected US retail sales growth and the possibility of further rate cuts by the US Federal Reserve, has contributed to a fresh all-time high for gold prices.
The US Federal Reserve’s anticipated moves, such as the potential for rate cuts in upcoming months, are expected to weigh on the US Dollar and further support gold’s appeal. With gold being a non-yielding asset, it often benefits from lower interest rates and a weaker dollar, both of which seem likely in the current economic climate.
Looking ahead, traders are watching for key economic data releases in the US, including building permits, housing starts, and industrial production. However, the market’s focus will likely remain on the outcome of the Federal Reserve’s two-day meeting, which could provide further direction for gold prices in the near term.
In conclusion, the combination of geopolitical tensions, economic concerns, and a likely dovish stance from the US Federal Reserve is continuing to drive gold prices upward in India and globally.
Related topics：
- What is the Value of 18K Gold?
- Why Does Gold Price Increase During War?
- What is the Best Price Being Paid for Gold Sovereigns?
