Quote on Gold As On 10th October 2023 By Mr. Veer Mishra, Co-Founder of Plus
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Below the "Quote on Gold" On 10th October 2023 by Mr. Veer Mishra, Co-Founder of Plus
Gold price in India today: ?53,350 per 10 grams (22 karat)
Silver price in India today: ?72,600 per kilogram
Quote:
"The prices of gold and silver in India are influenced by a number of factors, including global demand and supply, economic conditions, central bank buying, and currency movements. However, domestic factors such as the upcoming festive season and the weakening rupee are also playing a role in the recent rise in prices."
Domestic reasons for the price change:
Upcoming festive season: The upcoming festive season in India is a time when people traditionally buy gold and silver jewelry and other items. This increased demand tends to push up prices.
Weakening rupee: The Indian rupee has been weakening against the US dollar in recent months. This makes gold and silver imports more expensive, which also contributes to higher domestic prices.
It is important to note that the prices of gold and silver are volatile and can fluctuate frequently. Investors should always do their own research before making any investment decisions
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