Gold prices soar! Safe-haven appeal, festive demand drive gold rates up Rs 1,500 in just a day; analysts expect further rise – Times of India
Gold price outlook: Market participants anticipate further increases in the price of the precious metal. (AI image) Gold rate today: Gold prices reached a new peak of Rs 78,300 per 10 gm yesterday, driven by safe-haven buying amidst rising tensions in the Middle East and lower US bond yields. Market participants anticipate further increases in the price of the precious metal if global geopolitical uncertainties escalate. Compared to Tuesday, prices surged by Rs 1,500 per 10 gm, according to an ET report.According to Kumar Jain, spokesperson of the India Bullion & Jewellers Association (IBJA), "Zaveri Bazaar is buzzing with activity as there is a surge in gold prices.The footfalls have increased by up to 20% on Wednesday compared to a week ago." He mentioned that the Navratri festival, ...