New Delhi3 days ago
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There is an increase in the prices of gold and silver today i.e. on March 30. According to India Bullion and Jewelers Association (IBJA), 10 grams of 24 carat gold has increased by Rs 4 thousand to reach Rs 1.47 lakh. At the same time, the price of one kg silver has increased by Rs 8 thousand to Rs 2.30 lakh.
Gold became costlier by ₹ 13 thousand this year
This year there has been a rise in the price of gold. At the end of last year, gold was at Rs 1.33 lakh per 10 grams, which is now at Rs 1.47 lakh. That means its price has increased by Rs 23 thousand so far this year. However, the price of silver has decreased by Rs 285.
Market will depend on America-Iran tension
Experts believe that the next movement of gold and silver will depend on these two things:
- Middle East crisis: If tensions between Iran and America increase further or crude oil prices rise again, gold and silver may rise again.
- US data: If US economic data comes out better than expected then the dollar will strengthen and this may increase pressure on gold prices.
Expert opinion: Is it right to buy gold now?
According to experts, after touching record high, gold is currently in ‘correction phase’ (improvement in prices). The momentum may have weakened a bit in the short term, but the bullish trend continues in the long term. In such a situation, investors can invest in gold little by little.
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