<p>In the afternoon session on Saturday, August 5, gold prices increased due to increasing demand, climbing Rs 200 to Rs 55,150 per 10 kg. The price of 22-carat gold was Rs 55,300 per 10 kilos in Delhi, while the price of 24-carat gold was Rs 60,310 per 10 grams. The cost of silver increased by Rs 300 to Rs 75,100 per kilogram.</p>
<p>Prices for 22-carat gold in Mumbai were Rs 55,150 per 10 kilos, while those for 24-carat gold were Rs 60,160 per 10 grams. Prices for 24-carat gold in Kolkata and Hyderabad were Rs 59,950 per 10 kilos, while those for 22-carat gold were Rs 55,150 per 10 grams.<img decoding=”async” class=”alignnone wp-image-113534″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-for-admissions-delhi-university-adopts-cuet-ug-2023-and-streamlines-the-application-process-images-2023-08-05t175923.660.jpg” alt=”” width=”1155″ height=”865″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-for-admissions-delhi-university-adopts-cuet-ug-2023-and-streamlines-the-application-process-images-2023-08-05t175923.660.jpg 259w, https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-for-admissions-delhi-university-adopts-cuet-ug-2023-and-streamlines-the-application-process-images-2023-08-05t175923.660-150×112.jpg 150w” sizes=”(max-width: 1155px) 100vw, 1155px” /></p>
<p>22-carat gold cost Rs 54,950 and Rs 55,350, respectively, in Bengaluru and Chennai. 24-carat gold costs Rs 59,950 in Bengaluru and Rs 60,380 in Chennai, respectively.</p>
<p>Since July 2018 and over the previous five years, gold has increased by 99%. The Sensex, on the other hand, has increased by 77% throughout that time.</p>
<p>The price of 24 karat gold per 10 grams was Rs 30,850 at the end of July 2018, but it has since increased by about 99 percent to be close to Rs 61,400 in July 2023. The Sensex was at a level of 37,550 on July 30, 2018, and it is now at a level of roughly 61,800, up almost 77%.</p>
<p>According to experts, causes for gold purchasing included negative economic expectations, supply chain concern due to the pandemic, geopolitical tensions, central banks buying gold to increase reserves, and currency uncertainty.</p>
<p>However, they said that over a longer period of time, starting in 2012, the Sensex has produced positive returns all but twice—once during the epidemic and once during a small slump in 2015–March 2016. Gold, however, remained range-bound between Rs 24,500 and Rs 33,000 throughout the bull market between 2011 and 2018, at which point unpredictability prompted a breakout.</p>
<p>The US debt is at its highest levels, which going forward can be another trigger for uncertainty to benefit gold and keep the Sensex volatile, according to Jateen Trivedi of LKP Securities, who advised investors to maintain a balanced portfolio with a good allocation of at least 25–30% in gold.</p>
<p> </p>
