- Gold on the rise
- Chance of reaching Rs 50,000 again
- The reasons are the same
Bullion market experts predict that if the current gold trend continues, the pound will not touch Rs 50,000 again by Diwali. Fears of inflation, coupled with rising volatility in international equity markets, explain the rise in gold prices.
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In addition, the increase in demand for gold during the festive season is also said to have a positive impact on the pound rate. Gold prices have been rising for the past few days. Silver is also moving in a similar direction.
Meanwhile, gold prices rose in the Hyderabad market on Tuesday. The price of 10 grams of 24 carat gold moved above Rs 100. With this, the gold price reached Rs 48,930. At the same time, the price of 10 grams of 22 carat gold also ran in the same direction. It rose by Rs 90 to Rs 44,850.