International Gold Price Reaches 916 per Gram
The international gold market has seen a surge in prices, with gold now trading at 916 rupees per gram. This is a significant increase from the price of 880 rupees per gram just a few months ago.
The rise in gold prices is being attributed to a number of factors, including:
* Global economic uncertainty: The ongoing COVID-19 pandemic and the Russia-Ukraine conflict have created uncertainty in the global economy. This has led investors to seek safe haven assets like gold.
* Inflation: Rising inflation around the world is eroding the value of cash and other assets. Gold is seen as a hedge against inflation as it tends to hold its value during periods of high inflation.
* Increased demand from central banks: Central banks around the world are increasing their gold reserves. This is seen as a way to diversify their portfolios and reduce their exposure to risk.
* Limited supply: Gold is a finite resource, and the supply is not able to keep up with the growing demand. This is also contributing to the rise in prices.
The high price of gold is likely to continue in the near term. Investors should be aware that the gold market is volatile, and prices can fluctuate significantly. However, gold is still considered a safe haven asset, and it can be a valuable addition to a diversified portfolio.
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