The price of gold continues to fluctuate as the day climbs. Gold is breaking the record. On the day of Holi, the futures market of the Multi Commodity Exchange opened in the second half and the price crossed the level of 88 thousand rupees for the first time. Now 4 days later, on January 18, the price of gold has reached close to Rs 88,500 and has made a new record. There is a good increase in gold prices in foreign markets. Gold prices in New York markets have reached a new level.
Increase in demand for gold
According to experts, Fed’s policy meetings are going to start from March 18. The Fed will announce policy rates on March 19. Investors are quite excited by seeing inflation figures. He hopes that this time the fed can cut the policy rate by at least 0.25 percent. Due to which the price of gold is increasing. On the other hand, geopolitical tension and tariff war continues. Due to which the inclination of investors is more towards safe investment. Additionally, gold procurement is going on by central banks worldwide. Due to demand, there is an increase in rockets in gold prices.
Gold at record high on MCX
Gold prices are seeing a rise in the country’s futures market multi -commodity exchange and prices are seen at record levels. Thus at 12 noon, the price of gold has increased by Rs 344 per ten grams to Rs 88369 per ten grams. However, during the business session, the price of gold reached a record level of Rs 88,499 per ten grams. However, the price of gold closed at Rs 88,023 per ten grams a day earlier. On March 18, when the market opened in the morning, it had increased by about Rs 250 and the price was seen at Rs 88274 per ten grams.
How much did it increase this year?
If we talk about the current year, there has been a tremendous increase in the price of gold. The price of gold was Rs 10 per gram on the last year’s last year’s last year. It was 77456. Which increased to Rs 88,499 on 18 March. This means that the price of gold in the current year has increased by Rs 11,043 per ten grams, that is, there has been an increase of 14.25 percent. It has rarely happened that gold prices have increased by more than 14 percent in less than 90 days in a year. So far in March, the price of gold has increased by Rs 6,280, or 7.64 percent.
