The shine of gold has once again started increasing rapidly. Today, on Wednesday, August 12, a strong rise in the price of gold has been recorded in the bullion market. Gold has become costlier by Rs 96 in the market and has reached the level of Rs 1,54,850 per 10 grams (24 carat). Earlier on Tuesday also, the price of gold had increased by Rs 85 and it closed at Rs 1.53 lakh. At the same time, today the rate of 22 carat gold in the bullion market has been recorded at Rs 1,41,840 per 10 grams. If you are planning to buy gold or invest in it today, then definitely take a look at the latest gold rates in different cities of the country.
Latest gold prices in major metros and states
In the country's capital Delhi, the price of 24 carat gold is Rs 1,54,850 per 10 grams, while the price of 22 carat gold is Rs 1,41,840 per 10 grams.
The shine of 24 carat gold is a little brighter in Patna, the capital of Bihar, where it is being sold at Rs 1,54,930 per 10 grams. Today in Patna, the price of gold has increased by Rs 104 and the price of 22 carat gold has been recorded at Rs 1,41,910.
If we talk about the financial capital Mumbai, the price of 24 carat gold there has reached Rs 1,55,150 per 10 grams. Today gold has become costlier by Rs 111 in Mumbai and the price of 22 carat gold is Rs 1,42,120 per 10 grams.
Same is the condition of gold in Lucknow, the capital of Uttar Pradesh. 24 carat gold is being sold at Rs 1,54,930 per 10 grams in Lucknow, where an increase of Rs 104 has been recorded. Apart from this, the price of 22 carat gold here remains at Rs 1,41,910 per 10 grams.
Why is the price of gold rising suddenly?
Experts believe that many major global reasons are responsible for this continuous rise in gold prices. The biggest reason is the continuous purchase of gold by the Central Bank of China (People's Bank of China), which has been going on for the last 20 months. Apart from this, due to the simmering geopolitical tension in the Middle East and economic uncertainty prevailing across the world, investors are considering gold as the best safe investment. Whenever risk increases in the global market, the demand for gold starts skyrocketing. There is still doubt regarding the interest rates of the US Federal Reserve, on which investors are keeping a close eye. Also, in case of even a slight fall in prices, big institutional investors have increased buying instead of selling, due to which gold prices have remained at high levels.