new Delhi. Due to rising inflation in the world and the risk looming on the stock markets, the luster of gold has started increasing again. On the Multi Commodity Exchange (MCX), gold crossed the level of 50,400, which is the highest level in more than a year.
According to the exchange, the futures price of gold has reached the highest since January 2021. On the International Commodity Exchange, gold also reached the price of $ 1,900 an ounce. This level was last touched in June, 2021. So far in 2022, gold has become expensive by 3.6 percent, which is the fastest increase since 2020. Then under the pressure of the epidemic, gold had reached a record $ 2,100 an ounce.
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Two big reasons why gold is expensive
First, inflation is increasing continuously around the world. While the rate of retail inflation in India has crossed 6 percent, in America it is at a record level of 40 years.
Tension between Russia and Ukraine has increased to such an extent that now there is a possibility of war. The US has even warned that Russia can attack Ukraine at any time.
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guess what’s next
Experts say that the effect of increasing gold prices in the international market will also be visible on the Indian bullion market. Soon the spot prices can also cross the level of 50 thousand. Although the estimated price of gold in the global market is being set between $ 1,920 to $ 1,930, but if the risk increases, then the price of gold can go up to $ 1,970 an ounce.
Tags: gold, Gold Rate, Gold Rate Today
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