Today, April 1st, has seen the all-time high for gold prices. The India Bullion and Jewelers Association (IBJA) website states that the price of 10 grams of gold has increased by Rs 1,712 to Rs 68,964. On March 28, earlier this month, the price of 10 grams of gold reached an all-time high of Rs 67,252.
Today has also seen an increase in silver. It now costs Rs 75,400 per kilogram, an increase of Rs 1,273. It was formerly at Rs 74,127. The all-time high for silver was reached on December 4 of last year, or in 2023.
causes of the gold price increase:
Fear of a global economic downturn in 2024
The wedding season raised demand for gold.
The dollar index has declined.
Globally, central banks are purchasing gold.
In March, the price of gold increased by more than 4,000 rupees. The price of gold increased dramatically in the most recent month, March. Gold's price per gram was Rs 62,592 on March 1 and Rs 67,252 on March 31. This indicates that in March, its price was up by Rs 4,660. The price of silver also rose at the same time, from Rs 69,977 to Rs 74,127 per kg.
Gold can fetch as much as Rs 70,000.
Experts in the market predict that gold prices will likely climb in the upcoming days. As a result, the price of gold may reach Rs 70,000 per 10 grams by the end of the year. Moreover, silver might get up to Rs 75,000 per kilogram at the same moment.