New Delhi, May 22 (H.S.): The international price of gold has risen significantly, reaching nearly $3,350 per ounce on the Chicago Mercantile Exchange (Comex). Factors driving this increase include economic uncertainty in the US, a weakened dollar index, and rising bond yields, which have unsettled global investors. In April, gold peaked at $3,500 per ounce but then fell to about $3,270, prompting speculation it could drop to $3,100. However, the latest price rise has alleviated these downward predictions. In the Indian market, the Multi Commodity Exchange (MCX) reported that 24-carat gold is now priced at ₹97,910 per 10 grams, while 22-carat and 18-carat gold are at ₹89,750 and ₹73,440 per 10 grams, respectively.

Silver prices have also surged past one lakh rupees, driven by heightened global demand amid uncertainty. Experts attribute rising bond yields and a lack of interest in long-term bonds in the US as reasons for the shift toward gold investments. Additionally, the recent downgrade of the US credit rating by Moody’s has led to greater interest in gold as a secure investment. Market analyst Mayank Mohan notes that ongoing geopolitical tensions in the Middle East and US-China trade uncertainties are further fueling gold demand, although a potential trade agreement could lead to price reductions.

Hindusthan Samachar / Jun Sarkar