Gold broke all records, 24 carat price reached Rs 95,852 per 10 grams

Business News: Gold prices in the country are constantly touching new records. Today, on the morning of 17 April, the price of gold was recorded. Gold once again became expensive at the Multi Commodity Exchange (MCX) around 10:02 am. Today, 24 carat gold on MCX was seen trading at a price of Rs 95,600 per 10 grams. Not only this, gold also touched the highest level of Rs 95,852 per 10 grams during trading. If compared to the previous day i.e. April 16, then the price of gold at 9 am that day was Rs 94,465 per 10 grams. That is, an increase of about Rs 1,100 has been seen in a day.

Gold prices have also seen a tremendous rise in the global market. American gold futures also rose 0.2% to trading at $ 3,351.50 an ounce. These figures are around 9 am. So far this week, the price of gold has increased by more than 3%.

Fall in Silver prices

While gold is getting expensive, silver prices have been recorded. According to the latest MCX data, at 10:06 am today, the silver price saw a decline of about Rs 960 per 10 grams. At this time the price of silver was running at Rs 95,177 per 10 grams.

Causes of gold being expensive

There are many economic reasons behind the rise in gold prices. When the global markets create uncertainty or crisis situation, investors turn to gold as a safe option. This is the reason that prices increase as the demand increases. Recently, the announcement of tariffs (fees) by former US President Donald Trump spread instability in global markets. Although the tariff has been temporary 90 days of temporary ban, there is concern among investors.

Apart from this, the falling price of rupee is also a reason for the cost of gold. The price of the rupee was around Rs 86 against the dollar last month, which has now come down to around Rs 85. Imported gold becomes expensive due to the fall in the rupee.

Gold prices may continue to rise

Market experts believe that gold prices may continue to rise until global economic conditions are stable. At the same time, the fall in silver prices is considered temporary. Investors are currently being advised to invest thoughtfully.