Daijiworld Media Network – Bengaluru (MS)

Bengaluru, Apr 7: Gold prices have touched a record high at the beginning of the wedding season itself. The price of 10 grams of 24-carat gold has crossed Rs 71,000. In the past 10 days, the price rose on average of Rs 3,500 to 4,000.

The price of 10 grams of 22-carat gold in Bengaluru on Friday was Rs 64,150. On Saturday, it touched Rs 65,350. Similarly, the price of 10 grams of 24-carat gold was Rs 69,980 on Friday. This zoomed to Rs 71,290 on Saturday. The price of silver which was Rs 80300 a kilo has shot up to Rs 82,400 on Saturday. Karnataka state Jewellers’ Federation has opined that the prices of gold and silver may further rise in the coming days.

In the beginning of 2024, the price of 22-carat gold was Rs 58,000 for 10 grams. Now, it has crossed Rs 65,000. The price of 24-carat gold was Rs 63270 for 10 grams in January 2024. Now it has crossed Rs 71,000. Economists say that those who have invested in gold have reaped good returns.

The rise in prices of gold and silver have brought happiness and cheers to its investors. However, it has brought more misery to people ahead of their upcoming auspicious occasions like marriage, engagement and housewarming ceremonies. Jewellers say consumers are buying in less quantity and those who did book in advance are buying fast to avoid further rise in the price of yellow metal.

There are no gold manufacturing centres in India. All the gold is being imported from abroad. Trading at international level is done in US dollar. Most of the countries around the globe are investing in gold. As the demand for gold in increasing the prices are naturally rising according to the information provided by Gold Traders’ Association.