There has been a rise in the price of gold this week. According to the website of India Bullion and Jewelers Association (IBJA), gold has risen by Rs 118 in the bullion market this week. The beginning of this week i.e. on August 22, gold was at Rs 51,550, which is now at Rs 51,668 per 10 grams.
Gold price by carat
|carat||Price (Rs./10 gram)|
Silver Gained more than 3 thousand rupees This week also silver has seen a rise of more than 3 thousand rupees. This week, silver has risen from Rs 55,166 to Rs 55,607 per kg. That is, its price has increased by Rs 3,152 this week.
Gold can go up to 60 thousand by the end of the year
According to experts, inflation is definitely coming down in the country, but on a global scale, prices may remain high for a long time. This is supporting gold, as it is considered a hedge against inflation. That is, investment in gold increases when inflation rises.
Many other circumstances are also favorable for sleeping. For example, fears of recession in the US, interest rate hikes are expected to stop, unreasonable rise in stock markets and geopolitical tensions.
Gold is cheaper by Rs 4500 and silver by Rs 24000
from all time high Let us tell you that gold had made its all-time high in August 2020. At that time gold had gone up to the level of Rs 56,200 per ten grams. On the other hand, silver is getting cheaper at the rate of about Rs 24,373 per kg from its highest level. The all-time high of silver is Rs 79,980 per kg.