Gold Rate Today marks an upward movement. We are having this upward movement because of both national and international reasons. US dollar price is being kept in focus. The currency has come under pressure. The other reason is that India is celebrating Akshaya Tritiya today. The occasion refers to buying gold on the day. Gold prices witness a continuous increase leading to more people moving towards gold and commodities investment. As per details, the Gold Price rose by Rs. 40,000 in five years.
Gold Price Today Witness An Increase Following Akshaya Tritiya
Gold Prices are rising continuously. Many people are curious about the increasing prices of gold and want to know more about the upcoming predictions. As per the details, Gold Prices rises by Rs. 40,000 in the past five years. The current gold price is going on at Rs. 74,700+. It varies in different areas of the country. Cities like Bhopal have gold available at a little cheaper rate like Rs. 73,940 while places like Chennai will have way higher prices which is Rs. 75,060.
Gold Prices started from approx Rs. 65,000 at the start of 2024. Not only in India, Gold Prices are rising internationally as well. According to the reports, several countries are buying gold and increasing their reserves. Increasing Gold reserves also helps in strengthening the currency of the country sometimes.
Today is the occasion of Akshaya Tritiya. Thus, there is an increase in the demand for gold. More and more people are buying it. The festival has significance in the Hindu religion where people celebrate it as a symbol of new beginnings and prosperity. People tend to organize weddings on occasion. They also visit temples and worship lord Krishna to bless them with wealth and health.
Many middle-class and higher-class families tend to buy gold for the upcoming weddings in their houses. The tradition says that it is good to buy gold on such occasions. Apart from that, US dollar prices are also impacting the gold price. US Dollars price is having a lot of pressure after the Central Bank Of England refused to make any changes in the interest rates. It will remain unchanged.
Gold Prices have been rising for a long period. Several people are discussing how long will it take to keep increasing. However, it is expected to increase in the same way until these conditions change. As the festival will take off in two days, the price of gold is expected to fall as well.