Now Reading: Gold hits Rs 1,53,600 per 10 gm, up 53% in a year
-
01
Gold hits Rs 1,53,600 per 10 gm, up 53% in a year
24K gold was priced at Rs 1,53,600 per 10 gm on August 14, up nearly 8% in the past month and 53% over the year, ndtvprofit.com reports. Chennai recorded the highest rate…
The Story in Brief
24K gold was priced at Rs 1,53,600 per 10 gm on August 14, up nearly 8% in the past month and 53% over the year, ndtvprofit.com reports. Chennai recorded the highest rate among major Indian cities. The rally has been driven by global economic uncertainty and central bank buying. Retail demand remains strong ahead of the festive season.
The Indian Opinion
Gold's 53% yearly gain feeds the usual narrative that it is the only safe haven in uncertain times. Yet that narrative ignores the steep opportunity cost: equities have delivered comparable or better returns with liquidity, and fixed deposits offer predictable interest. The real test will come when the rupee strengthens or global interest rates stabilise. Will investors who piled into gold at these highs still call it a store of value if prices correct 10%? The 8% monthly spike itself looks speculative, not defensive.
Source: ndtvprofit.com
This story was synthesised by AI from the source linked above.
