Gold Rate: Price Increase in 10 Days
Since the beginning of February, gold prices have been steadily rising. On February 1st, the price of 22-carat gold was ₹7,760 per gram, while 24-carat gold was ₹8,464 per gram. By February 10th, these rates had risen to ₹7,995 and ₹8,721 respectively. This calculates to a +3.03% increase in 22-carat gold and a +3.04% increase in 24-carat gold over 10 days.
Gold Price: Why are Gold Prices Rising?
Several factors contribute to the rising price of gold. Global economic uncertainty driven by trade tensions and inflationary concerns has prompted investors to seek safe-haven assets. Furthermore, the weakening Indian Rupee has further increased domestic gold prices, making the yellow metal more expensive to import. With inflation and stock market volatility, investing in gold is becoming a safer option.
These Countries Bought the Most Gold
According to data from the International Monetary Fund (IMF) and other sources, Kazakhstan emerged as the largest seller in December 2024, selling 11 tonnes of gold. China, however, topped the list of gold-buying countries, purchasing 10 tonnes. Looking at the data for the year 2024, Poland emerged as the largest net buyer of gold, adding 90 tonnes to its reserves. Turkey (75 tonnes) and India (73 tonnes) followed in second and third place respectively.