As of now, the price of gold has crossed the impressive ₹80,000 mark for 10 grams, currently standing at ₹80,610. This surge indicates a renewed interest and demand for gold, which often serves as a safe haven for investors during uncertain economic times. Meanwhile, the prices for 24-carat gold jewelry are pegged at ₹79,630 per 10 grams, while 22-carat gold is available for ₹72,990.

Silver is not far behind in this upward trajectory. The price of silver has also seen a remarkable increase, recently surpassing the ₹1 lakh mark for a kilogram. Presently, the price for a kilo of silver is more than ₹1,10,000. This rising trend in silver prices reflects a growing confidence among investors, who are increasingly recognizing silver’s potential as a valuable asset.

Factors influencing these price hikes include changes in global economic conditions, currency fluctuations, and heightened demand for these precious metals in various sectors, including jewelry and technology. As international markets fluctuate, consumers and investors alike are advised to keep a close eye on these developments.

For those looking to invest or purchase gold and silver, understanding the market trends is crucial. With prices on the rise, potential buyers may want to consider their timing and strategy to ensure they make informed decisions.

In conclusion, as the prices of gold and silver continue to climb, the demand for these timeless metals remains unwavering. Whether for investment or personal use, staying informed about market trends will be key for anyone interested in these precious resources.

The post Gold and Silver Prices on the Rise: What You Need to Know appeared first on Vizag One.

The prices of gold, which have been falling until recently, are coming down now. For the third day in a row, gold rates saw a decline. Currently, the price of 10 grams of gold in Hyderabad market is 6,825 rupees. But this relief is only for a few days, experts say.

The Fed has cut interest rates by 50 basis points. The American Fed Reserve has reduced the interest rates, ending the debate that has been going on in the world market for the past few months. The Fed, which has currently cut rates by 50 basis points, is likely to cut another 50 basis points by the end of this year. The decision was taken by the Fed Reserve to boost the declining US economy and curb unemployment. This is the first rate cut by the Fed in four years. This is the first reduction in interest rates even after the Covid crisis. Fed Reserve Chairman Jerome Powell has signaled that interest rates will be further reduced in the coming reviews to boost the country’s economic growth and the job market.

More countries’ central banks are following the path of the Fed Reserve. With US elections in two months, the decision to cut interest rates has become crucial. It has an impact on every sector from consumers who take loans from banks to traders. Economic analysts believe that the central banks of more countries may lower interest rates on the path of the Fed Reserve. With the Fed Reserve reducing the interest rates, investors have focused on raw investments. Due to this, the international gold prices got wings. In the international market, the price of an ounce of gold rose by 22 dollars to reach 2,600 dollars. Due to this effect, it is expected that the price of gold will increase in the domestic market as well.

Imports rose to $10.06 billion this August. Gold is not just a metal for Indians; it’s a sentiment. It is the common sentiment of 140 crore Indians that Pisaranta should stay at home. As a result, the demand for gold has increased and there has been no decrease. On the other hand, the central government has reduced the customs duty on gold from 15 percent to 6 percent in the recent budget. And with the demand of the festival season, gold imports into the country have increased massively. Imports have doubled in the month of August compared to last year. In August last year, India imported gold worth 4.83 billion dollars, but this year it has increased to 10.06 billion dollars, the government announced. With festivals like Dussehra and Diwali coming next month, the demand for gold is likely to increase in the coming days, traders say.

There is demand but there is no production. Although there is a huge demand for gold in our country, we do not have that level of production. This is based on international imports. India stands next to China among the countries that import the most gold in the world. Gold alone accounts for 5 percent of India’s total imports. Due to the increasing geographical and political tensions in Central Asia and the US Fed’s stance on interest rates, gold prices are increasing in the international market. That effect is likely to touch the Indian market as well. Due to this, brass lovers are showing interest in buying greens.

The post The Changing Landscape of Gold Prices: A Look at Recent Trends and Predictions appeared first on Vizag One.

The World Gold Council has estimated that gold consumption in India will increase this year compared to last year. According to the World Gold Council, demand is expected to increase due to good monsoons and reduced duty on gold. India is expected to consume 850 tonnes of gold this year and 750 tonnes in 2023, according to the World Gold Council (WGC). This means that the country can buy about 13.5 percent more gold this year compared to last year. Jewelery will play the biggest role in driving demand for gold in India this year.

The WGC has forecast gold demand in India to rise 10 per cent year-on-year to 230 tonnes in the July-September quarter. This trend in gold demand is expected to continue in the fourth quarter i.e. October-December as well. During this time there are festivals like Diwali and Dhanteras. Gold is sold more here. However, gold demand fell by 5 percent to 158.1 tonnes in the April-June quarter this year.

According to the World Gold Council, higher import duty on gold led to lower demand in the last quarter. The World Gold Council said that the government has reduced the duty on gold from 15 percent to 6 percent in the general budget held on July 23, after which the demand for gold is increasing.

Increased popularity of gold ETF! WGC predicts that gold will now become a financial instrument in India as gold exchange traded funds are gaining popularity. The reason for saying this is the recent increase in investments in gold exchange traded funds. Currently only 50 tonnes of gold is stored in India through ETFs. But its capacity is also expected to increase in the coming years. According to the World Gold Council, in the first week of November, there will be volatility in the prices of gold as the presidential election is going to be held in the United States. India is completely dependent on imports to meet its gold requirements. Any change in international prices will affect the price of gold in India.

The post Gold Prices Drop After Central Budget: Demand Set to Rise in India appeared first on Vizag One.