We are back with the news about skyrocketing gold prices. People are curious about gold prices. As we know, gold is known as a symbol of wealth and prosperity. Its value has withstood numerous economic variations. We see the price of gold rising and falling regularly. However, after the Israel-Palestine war, the rate has increased. People search about it and try to get more details about the news. What happened? We will try to cover the whole matter in this article. We continue the article.
Why gold prices rise during war
According to the report, Israel launched airstrikes against Gaza on Saturday, October 7. The yellow metal recorded an intraday rise of Rs 1,497 per 10 g on the Multi Commodity Exchange on October 13. The December expiry gold futures contract on MCX ended 2.58% higher at ₹ 59,415 per 10 gm levels on Friday. The Russia-Ukraine war started on 24 February 2022. After this war, the price increased by around ₹1000/10 grams. If we talk about case gold, let us tell you that 22 case gold was priced at ₹49,400/10 grams and 24 karat gold prices were quoted at ₹53,890/10 grams. There are several things left to tell you about the news, which you will find in the next section of the article.
Now, some questions are emerging on the web. Will gold’s rally continue and for how long? And will the war between Israel and Hamas give a new boost to gold prices? Let us tell you that many people are curiously searching for the news. This news has raised several questions regarding the news. Let us tell you: “Many people, companies and even governments allocate gold in their portfolios as a hedge for the apocalyptic scenario. This works like insurance. There are several things left to tell you about the news, which you will find in the next section of the article.
Furthermore, after the conflict between both countries, the price of gold increased. We know that people invest their money in gold and save for the worst time. Because of this war, the market has changed too much. To minimize these risks, investors increase their allocation to the yellow metal. We have included all the important details about the news. We have shared all the details about the news, which we have obtained from other sources to write this article for the readers. If we get more details, we will inform you first on the same site. Stay tuned to us for more updates.
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Source: vtt.edu.vn