Gold price today: The price of gold has reached a record level. The price of gold on MCX has gone beyond 84200. The price of gold in the spot market has crossed Rs 85,000. The price of gold in MCX and Spot Market is trading at its peak level so far. Now it has to be seen when gold will cross the level of Rs 90,000. Actually, prices have risen due to US-China trade war. At the same time, gold is also trading around $ 2900 on Comex. Meanwhile, the spot price in the US has crossed $ 2855. Gold has gained momentum since the beginning of the new year. Know why there is a steady boom in the price of gold.
Why the price of gold is constantly rising
The rise in gold prices has come due to US-China trade war. China has also imposed tariffs on US goods imports. From February 10, 80 products will be targeted. Explain that China has imposed 10 per cent tariffs on the US on oil import, 10 per cent on agri machine, 15 per cent on coal and 15 per cent on LNG. At the same time, America will capture Gaza Strip. Trump Na said that Gaza will re -development in the strip. On the other hand, gold prices are also getting support due to fall in dollar index. Gold has weakened against the dollar. In December, the 3 -month low of US JOLTS figures have come.
Why is the gold crossing 85000 rupees in the spot market?
Due to the stir in the international market and change in American policies, people are considering gold as a safe investment, which is increasing its price. Experts say that if the interest rates are low and the market remains uncertain, gold can be more expensive. Its demand increases during weddings and festivals in India, which may increase the price of gold further in the coming months.
Gold consumption estimated to be 800 tonnes in the year 2025
The World Gold Council says that the Gold Consumption is estimated to be 700 tonnes to 800 tonnes in the year 2025. In 2024, the global gold demand may increase by 1% to 4,974.5 tonnes on an annual basis. The average gold price in 2024 has increased by 23% on an annual basis. The import of gold in the country has been as expected. The gray market is almost over after the duty decreased. There is a demand for 4974 tonnes of gold in the world. The demand for gold in the world has increased by 9 percent. He said that the demand for gold jewelery in the world has fallen by 12-13 percent. The demand for gold jewelery has fallen the most from China. Central banks from many countries have also purchased gold. RBI’s gold purchases have been 4 per cent higher than last year. The use of gold in technology is also increasing rapidly.
Gold and silver price in the country’s bullion market
24 carat gold has become expensive by about 400 rupees in Delhi. The price here reached Rs 85,600 per 10 grams, while 22 carat gold remains at Rs 78,260 per 10 grams. The price of 24 carat gold in Mumbai is trading at Rs 85,2100 and 22 carat gold at Rs 78,110 per 10 grams. Learn here the price of gold 5 February 2025 in 4 big cities of the country.
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