The Impressive TimesNew Delhi : Gold prices increased on Tuesday, February 25, with the price of 24-karat gold rising by ₹120 to reach ₹8,805.3 per gram. Meanwhile, 22-karat gold also witnessed an uptick, climbing ₹110 to ₹8,072.3 per gram. This increase marks a positive shift after recent fluctuations in the bullion market.
Over the past week, the price of 24-karat gold has shown a variation of 0.92%. However, on a monthly scale, the precious metal has experienced a decline of 6.09%, reflecting recent volatility in both domestic and international markets. Gold rates in India are influenced by a combination of global economic factors and local demand-supply dynamics.
A surge in demand from countries like China, the United States, and Europe often drives prices upward.
Higher interest rates typically lead to lower gold prices, as investors shift to interest-bearing assets.
The exchange rate of the US dollar against the Indian rupee significantly affects gold prices. A stronger dollar generally makes gold more expensive for buyers using other currencies.
Import duties, taxes, and regulations in India can directly impact gold prices.
Geopolitical tensions, economic uncertainties, and major global events often lead investors to seek gold as a safe-haven asset, driving prices up.
Investors and consumers are advised to monitor these factors closely when planning to buy or invest in gold, as market dynamics can shift rapidly
No Comments: