Gold Rate: Gold has crossed a level of Rs 1,00,000. On Tuesday, gold prices crossed a psychological figure and touched a level of Rs 1 lakh per 10 grams. The market has increased uncertainty due to the rise in gold prices in the international market and the criticism of US President Donald Trump’s Federal Reserve Chairman Geom Powell. This turned to the trend of investors towards a safe investment option, due to which the price of gold has reached its highest level so far. Now it has to be seen how long Gold crosses the level of Rs 1,38,000?
Gold reached Rs 1,00,116 after adding GST
After adding 3 percent GST to gold prices in India, the rate has reached Rs 1,00,116 per 10 grams. At the same time, gold is trading at ₹ 98,991 in the futures market at ₹ 98,991, while silver increased by 0.62% to Rs 95,840 per kg. The price of silver including GST reached Rs 98,715 per kg.
Gold at record high in international market
Gold has crossed the level of $ 3,400 an ounce for the first time in the international market. Spot Gold climbed 1.4% to $ 3,472.49 an ounce, which had touched a record level of $ 3,473.03 in the earlier session. At the same time, US gold futures are trending at $ 3,482.40 with a gain of 1.7%.
Dollar weakness and global uncertainty increased the attraction of gold
According to the Mehta Equities LTD Vice President Rahul Caller, the dollar index has come to a three-year low and the market is unstable due to the ongoing tussle over the interest rates between Trump-Powells. This has intensified the demand for gold. At the same time, the ongoing trade war between the US and China has also promoted the demand for safe haven assets.
Trump’s warning and investors’ vigilance
KCM Trade Chief Market Analyst Tim Waterr said that Trump has reiterated the demand for immediate cuts in interest rates and warned that the US economy could move towards recession. This statement has distanced investors from American assets and has brought gold a priority. Overall, the ongoing instability in global markets and dollar weakness has brought gold prices to new heights. This trend may continue in the coming days.
Gold Rate Today: 22 carat gold beyond 90 thousand, know how expensive on Tuesday 22 April