Gold rate doubles in less than 3 years as gold price jumps 100% to Rs 1 lakh

Gold:

Gold is not only an investment avenue but is considered precious in India. The yellow metal symbolizes wealth, prosperity, good health, and wealth. Gold has been and will be the holy grail for the people of India in terms of jewelry and investment. India is considered one of the largest markets for gold, and thus, the Indian gold market plays a significant role in the global economy of gold.


Gold Price in India, Significance, and Relation to the Economy:

While gold is the first choice for jewelry among Indians, investors consider some other forms of it as a safe haven such as gold coins, bars, gold ETFs, etc. Buying gold during some of the Indian festivals such as Dhanteras, Akshay Tritiya, and Diwali is considered auspicious and placed in high regard. Also, gold tops the list when it comes to shopping for Indian weddings; no wedding shopping list is considered complete without buying gold.

The best thing about buying gold is that it can act as a hedge against inflation whenever there is a fall in the economy. Gold prices spike when there is a dip in the interest rates - which is directly proportional to economic strength. In the short term, gold prices can be sometimes volatile but it has always given justice to its value in the longer run.

Factors that Affect Gold Price in India:

The Indian population has always had a deep affinity for gold. However, the gold rate today in India doesn't stay at a fixed position and fluctuates based on the changes in the market. The gold price in India today is affected by several factors. Gold rates in India keep changing on a daily basis owing to a number of factors that impact its price across India. Demand and supply, inflation, and global market conditions are some of the factors which influence the gold price in India or in any other country.

"This Content Sponsored by Buymote Shopping app

BuyMote E-Shopping Application is One of the Online Shopping App

Now Available on Play Store & App Store (Buymote E-Shopping)

Click Below Link and Install Application: https://buymote.shop/links/0f5993744a9213079a6b53e8

Sponsor Content: #buymote #buymoteeshopping #buymoteonline #buymoteshopping #buymoteapplication"

 

Comments

Post a Comment

Popular posts from this blog

Key Current Affairs Impacting UPSC Preparation: Geopolitical Dynamics, Economic Recovery, Environmental Sustainability, Social Issues, and Technological Advancements

Image
Geopolitical Landscape: The geopolitical tensions, particularly the ongoing conflict between Russia and Ukraine, have implications for India's foreign policy. India’s strategic positioning, emphasizing a non-aligned approach while fostering relationships with both Western nations and Russia, is crucial. The recent G20 summit highlighted India’s role as a key player in international diplomacy, focusing on sustainable development and global economic stability. Economic Developments: Domestically, India's economy is experiencing a robust recovery post-pandemic. The government’s initiatives, like the Production-Linked Incentive (PLI) scheme, aim to boost manufacturing and attract foreign investment. Key economic indicators such as GDP growth, inflation rates, and unemployment figures are essential for candidates to understand the broader economic narrative. Environmental Issues: Climate change remains a pressing concern. India's commitment to achieving net-zero emissi...
Read more

Namami Gange Programme: over 300 projects completed, Rs. 40,000 crore invested in rejuvenating river Ganga

Image
The Namami Gange Programme (NGP) has marked significant progress in its mission to rejuvenate the sacred River Ganga. It was launched in 2014 with a Rs 20,000 crore budget until 2021, and now extended to March 2026 with Rs 22,500 crore (total: Rs 42,500 crore). What is the Namami Gange Programme? About: It is a flagship programme for the rejuvenation of the Ganga River and its tributaries by reducing pollution, improving water quality, and restoring the river’s ecosystem. Implementation: Five-Tier Structure for Ganga Rejuvenation. Pollution Abatement (Nirmal Ganga): Setting up sewage treatment plants (STPs), reducing industrial and domestic waste discharge. Improving Ecology and Flow (Aviral Ganga): Restoring natural flow and biodiversity, implementing water conservation measures. Strengthening People-River Connect (Jan Ganga): Promoting community participation and awareness, involving local stakeholders in conservation efforts. Facilitating Research and Polic...
Read more

From 2 million to 28 million: how India’s automobile sector transformed in three decades now

Image
India's Automobile: India’s automobile industry has witnessed remarkable growth over the past decade, driven by policy reforms, infrastructure advancements, and a strong push for domestic manufacturing. A key catalyst in this transformation has been the Make in India initiative. Make in India: Launched in 2014, the initiative has fostered greater localization, innovation, and positioned India as a major global automotive hub. The sector has attracted substantial investment, boosted production, and made significant strides in electric vehicle (EV) manufacturing. Since the de-licensing of the industry and the introduction of 100% Foreign Direct Investment (FDI) under the automatic route in 1991, vehicle production has skyrocketed from 2 million in 1991-92 to approximately 28 million in 2023-24, reflecting India’s growing dominance in the global automobile market. Conclusion: The Indian automotive industry currently boasts a turnover of $240 billion (INR 20 lakh crore), playing a cruc...
Read more