New Delhi: Gold prices in the Indian market have touched a record high amid volatility in global markets. On the fourth trading day of the week, gold rose 250 rupees, to 40,220 rupees per ten grams. This is the highest ever level. Earlier on Tuesday, gold prices crossed the 40,000 marks for the first time.
Silver has risen 200 rupees to a record level of Rs 49050 per kg. According to market experts, silver prices may cross the 50 thousand per kilogram mark in the coming days. Gold prices have been bullish for the past several months. In just 18 months, gold has become more expensive than Rs 10,000. It may be mentioned that in August 2018, the gold price was Rs 30,335 per ten grams. Similarly, gold prices stood at 30,080 per ten grams in February 2018. If you look at the percentage, gold prices have seen a 33 percent increase so far.
The biggest reason for the rise in gold prices in India is the decision of the government. In fact, while presenting the General Budget in July last year, Finance Minister Nirmala Sitharaman has increased import duty on gold from 10 percent to 12.5 percent. Gold trading has declined sharply due to rising import prices.
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