There is an atmosphere of tension in the market due to the Iran-Israel war. Meanwhile, the prices of gold and silver are also continuously increasing. In such a situation, the question arises whether gold and silver will become more expensive in the future? Let us know how much more the gold and silver rates will rise and what is the opinion of experts on this.
Israel-Iran tension is increasing, due to which there is an atmosphere of tension in the market. At the same time, the prices of gold and silver are also continuously increasing. On one hand, investors are considering gold as a safe haven and on the other hand, its rising prices have put pressure on buyers. Amidst the tension of Iran-Israel war, gold has recently made an all time high of 74 thousand. In such a situation, the question arises whether gold and silver will become more expensive in the future?
Let us tell you, experts believe that there is a possibility of further increase in the price of gold due to the war between Iran and Israel. Experts believe that the rates of gold and silver may increase further.
What are the prices of gold?
On Tuesday, 10 grams of gold became costlier by Rs 184 on MCX and became Rs 72461.00. The price of gold has increased by Rs 4,550 in 16 days since the Israel-Iran tension started on April 1. Let us tell you, before this gold had made its all time high at 73958.00. After which there is a trend of rise and slight fall in the prices of gold.
There has been a rise in silver also today. The price of one kg silver has increased by Rs 180 to Rs 83,632. Earlier on April 12, silver had made a high of Rs 83,819. According to Anuj Gupta, Commodity Head at HDFC Securities, there may be a further increase in their prices in the coming days.
Gold became costlier by Rs 4,994 in just 15 days
Israel-Iran tension started on April 1. Then the price of gold was at 68,964. At the same time, today on 16th April it has reached Rs 72461.00 per 10 grams. During this period, on April 12, gold had made its all-time high of Rs 73,958. That means it has become costlier by Rs 4,994 in just 15 days. Anuj Gupta, Commodity Head at HDFC Securities, believes that due to Israel-Iran tension, gold may see further rise. According to market experts, in the coming days, gold can go up to Rs 75 thousand per 10 grams.
Gold prices have always seen a rise during wars. There was a surge in gold prices during the Gulf War during 1990-91, but it was short term. Similarly, during the Iraq War in 2003, gold prices increased. At the same time, when the Iran-Israel war is at its peak, gold prices are making new records every day.