Tag Archives: gold rate in india

Today’s Gold Rate may hit Rs 34,000 mark by Diwali 2018

Today’s Gold rates are likely to rise up to Rs 34,000 per 10 grams level during Diwali mainly on the back of depreciating rupee and geo-political concerns, according to analysts.

Gold prices are likely to hold in the range of Rs 30,000-34,000 per ten grams until Diwali in the domestic market, and internationally the yellow metal might be in USD 1,260-1,400 an ounce level, Commtrendz Risk Management director Gnanasekar Thiagarajan told PTI here.

“Price would have absorbed the effect of rate hikes and rate hikes would only confirm inflationary expectations, which could increase the appeal for bullion as an inflationary hedge then. And with domestic currency poised to weaken further prices could test previous highs around Diwali,” he added.