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Gold prices have
skyrocketed. There is very little to be seen where the price of gold is very
little to be found. If we look at this Sunday and April 14, the price of 24K 10
grams of gold in our country's capital Delhi was more than 71 thousand. Seeing
the increase in the price of gold, there is one question in everyone's mind
that how is the price of gold increasing at such a fast pace? In response to
this question, Santa Kumar, Secretary General of Madras Gold And Diamond
Merchant Association, says that the change in the international market is
behind the rapid increase in gold prices.
With that, Santa
Kumar says that all the gold prices in the world are determined by the London
Bullion Market Association. London Bullion Market is a premium platform for
exchanging all gold prices in the world. Now the price of gold is increasing in
this market, the result of which is falling on the price of gold in the
international market. All kinds of precious metals in the world are
systematically dumped in the international market. One troy ounce contains 31.1
grams and at this time the price of one usd is more than 83 rupees. With that,
Santa Kumar says that there are many reasons behind the increase in gold
prices. He says that the world's economic wars affect the price of gold. About
800 tons of gold is produced in India every year.
Gold is usually sourced from India,
Switherland, South Africa and Dubai. Along with that, Santa Kumar says that the
financial system of America is also a reason for increasing the price of gold
in India. With that, he says that the real estate and share market in America
is going down, so the price of gold is increasing in India. Inflation continues
to rise across the world, impacting the economy, thereby affecting the price of
gold. Investment expert Satish Kumar B says that the price of gold is affected
due to the high prices in America. There is a question in everyone's mind that
why do people invest in gold even after the price has increased so much? In
response to this, Satish Kumar says that people today look at safe investment
options and historically considered gold to be a safe investment. In all the
countries in the Asian continent including India, gold is seen as capital,
while in other countries, gold is seen as investment. If we look at the
previous 20 years, then we know that the price of gold is increasing
continuously, the reason behind this is that the demand for gold in the market
is also increasing. American financier and investment banker John Pierpont
Morgan says that the price of gold will increase further. It is said that the
price of gold will increase further till 2025.
