17 May Gold Rate: Gold prices are sky high, by November-December the rate of 10 grams of gold will be this much
Gold Rate: The price of gold is continuously falling. Despite this, gold is still beyond the reach of the common man. The price of gold has increased so much this year that it has made the common customers sweat. The result is that people have started wearing light jewellery even during weddings. The price of gold is sky high.
Breaking News (Gold Rate) Gold is a precious metal. It is a jewel for adorning a person. Gold has a traditional significance in India. In recent times, gold has become the first choice of investors as well.
The price of gold has increased so much that it is going out of the reach of people. Experts have also given their opinion about what the price of gold will be in the future.
Common customers turned away from gold
Gold has a lot of importance in the country. People buy gold on auspicious occasions. At the same time, a large amount is spent on gold in weddings.
But, this year the price of gold has increased so much that gold has gone beyond the reach of the common man. People have started making light jewellery. People have been forced to wear light gold jewellery (Gold Rate).
Jewellery purchases fell by 25 percent
This is the first time in 16 years that gold prices have increased so much in a quarter of a year that the number of people buying gold has decreased by 25 percent.
This figure is of those buying gold jewellery. Due to the increase in gold rates, people have distanced themselves from gold.
Investors' interest increased
While on one hand the general buyers of gold have reduced, on the other hand, after ten years in 2025, it has happened that the interest of investors in gold has increased. In the first quarter of this year, investors have increased by 7 percent. One reason for the increase in the price of gold (Gold Rate) has also been the demand of investors.
Why did the price of gold increase
The main reason for the increase in the price of gold is the change in American politics. Donald Trump won the election in America and Trump raised the issue of tariff across the world under Make America Great Again. Trump came up with the formula of reciprocal tax and brought the same tax on the tax being levied by any country.
This tariff war was such that the market conditions worsened and investors left the market and turned to gold considering it safe and the gold rates kept on increasing day by day. Gold reached the seventh sky.
What are the current gold prices
Gold prices have been falling for the last few days, but still gold remains above 90 thousand. The price of gold on MCX in the country is running at Rs 92,337 per ten grams. On the night of 16 May, the price of gold is down by Rs 832. This is compared to yesterday. Gold prices are currently in this range and have become stable.
There has been a tremendous increase this year
There has been a tremendous increase in the price of gold this year. Gold crossed Rs 1 lakh from Rs 76 thousand. That means gold has given a return of about 30 percent.
On April 22, the price of 24 carat gold in the bullion market in the country crossed Rs 1 lakh. At the same time, gold on MCX also went up to Rs 99,358 per 10 grams on the same day.
What will be the price of gold by November-December
Experts' opinion on the gold rate has also come out. Expert Rohit Verma believes that by November this year, the price of gold will be around Rs 1,50,000 to Rs 1,10,000. He said that currently gold is trading around Rs 90 to 94 thousand.
This fluctuation can continue in the meantime. However, the issue of tariff which was put on hold for three months will return again and at the same time, the demand for gold will increase in the country on Diwali which will increase the prices of gold.