Gold Prices: Gold will soon cross Rs 2 lakh, price triples every 9 years!

Today, some softening is being seen in the price of gold. On Monday, gold is trading at a slight decline on MCX. However, even after that, the prices of the yellow metal are not far from their high level. Gold has been continuously rising during the past years and has proved to be a safe as well as high return investment for investors.

Gold is at this level today

In today's trading, gold has softened by 0.46 percent on MCX to cross Rs 71,350. During the last one-two weeks, the price of gold has softened somewhat. Before that, recently gold had climbed to its lifetime high level, its price had reached the level of Rs 74 thousand per 10 grams.

Such a rise in the last 9 years

The kind of great returns the yellow metal has given to investors in the last few years can be gauged from the fact that in the last 9 years, the price of gold has almost tripled. In the year 2015, gold was near Rs 24,740. Just two weeks ago, gold had crossed the level of Rs 74,000 per 10 grams. This is an increase of 199.11 percent in 9 years.

The price rises this much every 9 years

The return of the yellow metal has been similar even before that. For example, the gold which was near Rs 24,740 in 2015, was at the level of only Rs 8,250 per 10 grams 9 years before that, i.e. in 2006. That is, in those 9 years, the price of gold increased by 199.88 percent. According to this, it can be said that gold is able to give 3 times return every 9 years.

These are the reasons for the increase in the price

The most important reason for the increase in the price of gold is geopolitical tension. Every few years, tensions increase in some part of the world, which increases the price of gold. Talking about recent years, geopolitical tensions like Israel-Iran, Russia-Ukraine war, China-Taiwan have made gold expensive. Analysts say that if the tension remains like this, then this time it will not take even 9 years for gold to triple. That is, gold can soon cross the level of Rs 2 lakh per 10 grams.

Also read: 448 projects got delayed, cost increased by more than Rs 5.5 lakh crores

Kate Middleton’s Parents Make First Public Appearance Since Her Cancer Diagnosis

Kate Middleton’s parents, Carole and Michael Middleton, have made their first public appearance since their daughter’s cancer diagnosis. On Wednesday, ...

Billy Ray Cyrus Reveals Alleged Handwritten Note from Firerose amid Divorce

An alleged handwritten note from Firerose to Billy Ray Cyrus details the former asking the country star to "work this ...

Keith Urban Honors Nicole Kidman for Supporting Him amid Past ‘Addictions’

Keith Urban is celebrating his wife Nicole Kidman. The country star, 56, gave a touching speech in honor of Kidman, ...

Who is Haris Rauf's wife Muzna Masood Malik, a well-known personality in Pakistan fashion industry

Haris Rauf: Pakistani fast bowler Haris Rauf is in the news for getting angry at a fan. A video of ...

Travis Kelce shares go-to date night meal after revealing how much he loves cooking with Taylor Swift

Taylor Swift’s boyfriend Travis Kelce’s go-to dish to make for date night is a homemade pasta dish. mattjames919/Tiktok He’s dishing ...

Ice Cube ‘Approves’ of Drake and Kendrick Lamar’s Beef

Ice Cube is giving his two cents on the beef that has dominated hip-hop news this year. The headline-making feud ...

Former Pakistan cricketer Kamran Akmal urged BCCI to approach Zaheer Khan or Ashish Nehra for Team India bowling coach Gautam Gambhir

Team India Coach: Gautam Gambhir's name is being considered at the top for the post of head coach of the ...

hot summer season and low reservoir levels may put stress on summer crop of vegetables and fruits Says RBI Bulletin

RBI Bulletin: The country is witnessing severe heat and heatwave, due to which there is a risk of inflation increasing ...

Gautam Adani praises Manmohan Singh for starting liberalisation and ending License Raj

Manmohan Singh: Adani Group chairman Gautam Adani has praised former Prime Minister Manmohan Singh. Gautam Adani said that in 1991, ...

After becoming the head coach of the Indian cricket team, Gautam Gambhir can give KKR player Harshit Rana a chance to debut in Team India

Team India Coach: These days Gautam Gambhir is in the race to become the head coach of the Indian team ...

Leave a Comment