Gold prices in India rise significantly, cross ₹70,000 per grams in major cities

Gold prices continued to rise in India on April 10, fluctuating constantly throughout the week. The price of gold in India on April 10 is ₹66,610 per 10 grams for 22 carat gold and ₹72,110 per 10 grams for 24 carat gold (also known as 999 gold).

Why are gold prices rising?

Several factors are contributing to the rise in gold prices in India. One key factor is the increasing inflation rate. With the rising cost of living, gold becomes an attractive investment option for individuals aiming to hedge against inflation. Another factor that influences gold prices is the ongoing geopolitical uncertainty. The ongoing war in Ukraine and increasing global tensions have created a sense of risk aversion among investors. In such times, investors often turn to safe-haven assets like gold, which are primarily perceived as less volatile than stocks or bonds. This increased demand from investors tends to drive gold prices higher.

What should investors keep in mind before investing in gold?

Financial experts recommend that investors should carefully consider their investment goals and risk tolerance before investing in gold. While gold can offer a hedge against inflation and provide stability during volatile market conditions, it does not come without its risks. The price of gold can fluctuate, and investors may not always get the returns they are looking for.

What are the recent trends in global gold prices?

Gold prices have moved up significantly in recent months, rising by 17% between February 12, 2024, and April 10, 2024. In comparison, the S&P 500 increased by 3.6%, the US Dollar Index remained relatively stable, and the US 2-year yield rose from 4.47% to 4.75%, marking a 28 basis point increase.