October 29, 2024

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Gold prices in India have been on a continuous rise and the upcoming Diwali festival is generating a lot of demand for the yellow metal. Let’s see 7 factors that usually affect the gold prices in India. [{ "selector": ".cijnj-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-344px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".pjejg-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".inzqn-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Global market trends

Since most of the gold sold in India is imported, international gold prices affect gold prices in India. [{ "selector": ".odrel-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-338px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".kjtls-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".btklz-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-360px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".duodx-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Currency value

The strength of the Indian rupee against the US dollar impacts gold prices. A weaker rupee makes gold more expensive as gold prices are quoted in US dollars. [{ "selector": ".rzcul-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-337px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".igtko-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".gttka-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-360px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".gucqz-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Demand and supply

Seasonal demand like festivals and weddings and changes in supply due to factors like mining input influence prices. [{ "selector": ".excsa-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-325px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".dwgbg-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".isemd-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-360px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".ugspx-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Inflation rates

A weaker currency drives people to invest in safer assets, like gold that act as a hedge against inflation. This increases demand and the prices of gold. [{ "selector": ".omdxf-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-333px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".qxjzf-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".ksorf-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-360px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".gnqdr-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Government policies

Import duties, taxes and regulations on gold can affect prices in the local markets. Changes in these policies can lead to price fluctuations. [{ "selector": ".isrgc-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-338px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".oxplx-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".isdua-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-360px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".uqxzm-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Geopolitical factors

Political instability, economic sanctions or global tensions can drive investors towards gold as a safe haven. [{ "selector": ".ppnzc-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-360px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".okgmt-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".ctdxk-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-360px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".mutqu-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

Market speculation

Sentiments of traders and speculative investments can lead to price volatility in the gold market. [{ "selector": ".akfmg-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-338px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".nogoe-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".aibxl-a", "duration": "500ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "transform": "translateX(-360px)", "opacity": "1", "visibility" :"visible" }, {"offset": 1, "transform": "translateX(0)", "opacity": "1", "visibility" :"visible"} ] }, { "selector": ".ixdak-a", "duration": "250ms", "fill": "forwards", "delay": "0ms", "keyframes": [ {"offset": 0, "opacity": 0, "visibility" :"visible"}, {"offset": 1, "opacity": "1", "visibility" :"visible"} ] }]

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