Now Reading: Gold rates hit record high at Rs 1,54,000 per 10 gm in Delhi
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Gold rates hit record high at Rs 1,54,000 per 10 gm in Delhi
Gold prices in Delhi hit Rs 1,54,000 per 10 grams for 24-carat purity on August 8, extending gains for the fourth straight session, according to Times Now. The yellow metal rose by…
The Story in Brief
Gold prices in Delhi hit Rs 1,54,000 per 10 grams for 24-carat purity on August 8, extending gains for the fourth straight session, according to Times Now. The yellow metal rose by Rs 200 from the previous close of Rs 1,53,800. The rally was driven by a weaker US dollar and easing crude oil prices, as reported by PTI.
In Mumbai, 24-carat gold was quoted at Rs 1,49,890 per 10 grams, while in Chennai it stood at Rs 1,50,000. Livemint reported that MCX gold futures for October delivery rose 0.85 per cent to Rs 1,15,130 per 10 grams. Spot gold in international markets advanced two per cent to $4,325.43 an ounce.
The Indian Opinion
The gold price rally is getting tiresome; every day brings a new record, yet the media keeps calling it a 'winning streak'. But where is the joy for a bride's family or a small investor sitting on paper gains? The real story is not international cues or US dollar moves but that gold has become a speculative playground. Let us see if the RBI's next policy meeting manages to cool this gold fever, or if the bull run simply refuses to stop.
Sources (2): livemint.com, timesnownews.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
