Gold Rate: While the stock market’s decline is not stopping, the price of gold is skyrocketing. Gold has become more expensive in the last week, at Rs 1,300 per 10 grams. This rise in the price of gold is no longer limited to the Multi Commodity Exchange (MCX); gold prices are also breaking records in the domestic market.
What Is The Price Of Gold Today?
Today, February 23, 2025, the price of 22-carat gold in Mumbai is Rs 80,477 per 10 grams, whereas it is Rs 80,616 per 10 grams in Chennai, Rs 80,475 per 10 grams in Kolkata, and Rs 80,643 per 10 grams in Noida.
The Price Of Gold Is Increasing Rapidly This Year
The price of gold has continuously increased even after the budget this year. On Friday, the last trading day of last week, the price of gold with an expiry date of April 4 on MCX reached Rs 84,687 per 10 grams. On February 21, the previous trading day of this week, it reached Rs 86,020. In just one week, the price of 10 grams of gold has increased by Rs 1,333.
Gold Prices Are Also Rising In The Domestic Market
There was fluctuation in the price of gold in the domestic market this week. According to the website of the Indian Bullion Jewelers Association (IBJA), on the first day of the trading week, February 17, the price of 10 grams of gold was recorded at Rs 85,254 per 10 grams, while in the previous trading session, it closed at around Rs 86,000. On February 18, the price of 10 grams of 24-carat gold was recorded at Rs 85,690; on February 19, it was Rs 86,733, and on February 20, it was Rs 86,520. On the last trading day of the week, i.e. Friday, it fell, and its price reached Rs 86,090 per 10 grams.
Why Are Gold Prices Increasing?
After President Donald Trump took power in the US, there is a fear of inflation rising due to his strict policies. In such a situation, investors are investing in gold as a safe investment. Investors fear losses in the stock market because FIIs are constantly selling their shares in the Indian stock market. In such a situation, gold is considered a safe way of investment. Now, the demand is increasing, so the price of gold is also increasing. Due to Trump imposing tariffs on goods imported from different countries, the fear of a tariff war has increased. This is also likely to increase inflation.
