By Admin 
Gold price today: The price of gold continues to fluctuate and investors from all over the world are eyeing the speech of America’s Federal Reserve Chairman Geom Powell. The market hopes that their speech will be able to indicate US economic policies and interest rates ahead. Internationally, the US spot gold is trading at $ 3,335.22 an ounce.
Now know what gold prices are in different cities of India today:
In the national capital Delhi, 24 carat gold is being sold for Rs 1,00,910 per 10 grams and 22 carat gold for Rs 92,460. The price of 24 carat gold in Ahmedabad and Patna is Rs 1,00,810 and 22 carat gold is Rs 92,360 per 10 grams.
At the same time, in the financial capital Mumbai, Hyderabad, Chennai, Bangalore and Kolkata, 24 carat gold per 10 grams per 10 grams and 22 carat gold is trading at the rate of Rs 92,310.
How is the rate fixed?
The price of gold and silver is fixed on the basis of many factors daily. The first reason among them is dollar and rupee i.e. exchange rate. Internationally, the price of gold and silver is fixed in US dollars. If the dollar is strong and the rupee is weak then gold and silver become expensive in India. On the other hand, if the rupee becomes strong, then their prices may decrease slightly.
The second major reason is import duty and tax. India is the largest gold importing country in the world. In such a situation, import duty, GST and other tax imposed by the government directly increase the price of gold and silver. The third reason is the global situation and the sentiment. When there is war, recession, change in interest rates or any economic crisis in the world, investors run towards safe options like gold and silver. This increases their price.
The cultural significance of gold and silver demand in India is also very high. Buying gold on weddings, festivals and auspicious occasions is a tradition. Due to increasing demand, prices naturally go up.
Inflation means inflation also affects gold and silver. When inflation increases, people consider gold as safe investment and invest in it. Because of this, Sona has been working as a hedge against inflation for a long time. Gold-silver trading is done in international markets like Comex and London Bullion Market Association and on the basis of trends fixed there, prices are fixed in other countries including India.
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