Gold prices are rising, the highest level in Seven years in the international market
New Delhi: Gold prices are on the rise amid fears of a major slowdown in the global economy. In the international market, gold has risen to an all-time high of 1724.72 per ounce over the past four years. The impact is beginning to fall on the domestic market. In the Indian market, 22-carat gold has risen to Rs 42,000 per 10 grams and 24-carat gold to Rs 45,000 per 10 grams. The increase is expected to continue.
Lockdowns have been declared in most countries as the coronavirus epidemic spreads around the world. As a result, many factories, businesses, and transportation have been shut down. This has put the world economy in a slump. In view of this, investors do not feel safe to invest in the stock market. That’s why they’re investing in gold. That’s why gold prices are rising, experts say.