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Explainer: Why gold prices are skyrocketing in India
Gold just reached a new record in Delhi—₹1,13,100 for 10gm—up a whopping 43% since the end of last year.
Gold prices have shot up
If you're wondering why everyone's talking about gold, it's because prices have shot up fast.
With inflation worries and global tensions on the rise, more people are turning to gold as a safe place for their money.
Factors driving the price surge
Analysts say it's a mix of mounting public debt and expectations of lower interest rates, central banks stocking up on gold, and rising demand from investors.
Plus, ongoing geopolitical issues and talk of US interest rate cuts are making gold even more appealing right now.