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Gold Prices Today: Hold onto your wallets, folks— gold just sprinted past the ₹1 lakh mark per 10 grams in India, setting a brand-new record and sending the bullion markets into full sparkle mode! Got gold? You’re probably grinning. Don’t? Well… maybe it’s time to check your grandma’s jewellery drawer.
Now before you start melting down your earrings or panic-buying chains, experts are waving the yellow flag of chill. They’re saying this golden rally might take a quick breather—a tiny 10% correction may show up just to keep things interesting. But hey, long-term gold fans aren’t blinking. Why? Because in a world full of economic plot twists, gold is still the OG superhero of safety nets.
Gold Prices Today In Your City
Here are the prices of gold for 1 gram (24 carats) in different Indian cities
- Delhi: Rs 10,150
- Noida: Rs 10,135
- Gurugram: Rs 10,135
- Mumbai: Rs 10,135
- Chennai: Rs 10,135
- Bengaluru: Rs 10,135
- Kolkata: Rs 10,135
gold prices on the Multi Commodity Exchange (MCX) neared Rs 99,022.00 with an upward rally of 1.79%.
A Pullback? Totally Normal, Say Market Veterans
According to Rajesh Rokde, Chairman of the Gem and Jewellery Council of India (GJC), it’s time to hit the pause button and take a deep breath.
“Whenever there’s a sharp rally in gold, a 10 percent correction is normal. It’s usually a temporary pullback and doesn’t last long,” he told ANI. Nothing to panic about, folks—gold’s just taking a quick stretch before the sprint continues.
But hold on, here’s the exciting part: Goldman Sachs is dreaming big! They predict gold could hit a jaw-dropping USD 4,000 an ounce. Why? Two power-packed reasons—de-dollarisation and central banks going full gold-hoarder mode.
And let’s not forget the China–US trade war. Investors are getting jittery, and even China’s insurance giants are scrambling to stash up on gold.
Rokde keeps it real, reminding us that in every rally, a 10% dip is just part of the ride. So, if you’re seeing red in the short-term, remember this: when gold was at USD 1,000, a dip of $100 was expected. Now at $3,400, a $340 correction is just business as usual.
Tariffs, Trade Wars, and Glittering Gains: How Gold Became Hottest Asset
The Trump administration’s tariff tantrums have added fuel to the gold rush fire. With the global economy showing signs of strain, investors are rushing to park their funds in gold like it’s the last lifeboat on a sinking ship. The result? More buyers piling in, prices climbing, and gold claiming the crown as 2024’s shining star.
In the chaos of trade wars and tariff drama, gold is proving to be the one investment that’s standing tall, steady, and (let’s be real) absolutely gleaming. So, if you’re looking for a safe haven, it looks like the yellow metal is leading the charge.
Indian Households: Still Gold’s Smartest Fans (And We Aren’t Talking About Jewellery)
Back in India, Uday Kotak gave a massive shout-out to the real MVPs—Indian housewives! “The performance of gold over time highlights that the Indian housewife is the smartest fund manager in the world,” he said. And let’s be honest, who else would stitch together savings in the form of gold while still managing to cook a three-course meal?
For generations, gold in Indian homes hasn’t just been about the glitzy bangles or nose pins; it’s been the ultimate financial cushion. Like a piggy bank, but much shinier and better at weathering economic storms.
Kotak also cheekily suggested that maybe governments and central banks could learn a thing or two from Indian gold-savvy families. “Maybe they should take a leaf from India,” he quipped. Hey, if it’s been working for us, maybe it’s time to take that advice to the global stage!
Gold may take a small dip soon (we’re talking minor, like the kind you get when you accidentally knock over your chai cup), but no need to worry—it’s still the star of the show. Whether you’re buying it for an investment or for your wedding trousseau, that golden glow isn’t going anywhere anytime soon.
Also Read: Stock Market Today: Flat Opening, Big Quarterly Earnings Ahead—Top Stocks to Watch Now!
