Gold broke all records! Know why the prices have gone up and what is today’s rate in your city.

It is the season of Diwali and Dhanteras and everyone is planning to buy some gold and silver. But wait! This time buying gold may be a little heavy on your pocket. Even before Dhanteras, gold prices are skyrocketing and are creating lines of worry on the faces of buyers.

24 carat gold price in Delhi today (16 October) ₹1,29,600 per 10 grams has reached a record level of. And experts believe this is just the beginning! till Dhanteras ₹1.30 lakh It is expected to exceed.

So, let us know why gold is on fire and what is today’s latest price in your city.

Why did the gold catch fire? 5 big reasons

There are many big reasons behind the increase in gold prices at rocket speed, not just the festive demand:

1. Celebration of festivals: There is a competition to buy gold in India on Dhanteras and Diwali, due to which the prices are increasing.
2. Tension around the world: The increasing trade tension between America and China is scaring investors, and whenever there is tension in the world, people invest money in gold, which is considered the safest.
3. Interest rates expected to decline in America: When interest rates fall, gold becomes more attractive.
4. Big purchases by banks: Big central banks around the world are filling their coffers by buying gold themselves.
5. US government shutdown: The fear of government work coming to a halt in America is also boosting gold prices.

So let’s see what is the price in your city? (10 grams)

Silver is not far behind, prices are sky high!

Not only gold but also silver is becoming expensive. Today the price of silver increased ₹1,90,100 per kg It is done. It is believed that this rise in the prices of silver has happened due to reduction in the supply of silver all over the world.

So if you are planning to buy gold or silver this Diwali, get ready to stretch your wallet a little more!