Gold is forever. It is beautiful, useful, and never wears out. It has been prized over all else, as a store of value that will survive the travails of life and the ravages of time. Every individual, although he may not need the gold, is a potential gold buyer. The yellow metal is being added as wealth, and passed from generation to generation as an object of family treasure. Moreover, gold jewellery is deeply connected with the culture, traditions and religions of India. Traditionally, Indian households see gold jewellery as an investment in their wealth and for their daughters it’s the future fortune. To have this precious metal, is every woman’s dream. For an Indian woman, the more jewellery she wears, the more beautiful and complete she feels. But as the gold prices are soaring, the desire of the common man to possess it perhaps needs to be postponed for some time. Check gold price in usa.
Gold has witnessed to a nonstop historic rally. The price of gold hit a 25-year high touching USD 637.30 an ounce this week. The reason mostly is the huge amount of investment being made into precious metals. According to PTI, standard gold (99.5 purity) shot up by Rs 50 per 10 gram higher at Rs 9,345 from Rs 9295 of yesterday (27/04/2006) while pure gold (99.9 purity) also jumped up by similar margin and closed at Rs 9390 per 10 grams against the previous day close of Rs 9340.
At the same time, the price of gold in the international market rose by USD 3.68 per ounce and shot up at $637.30 as investors took gold as the safe haven during the time of rampant inflation and global disturbances of many a kinds- political and apolitical. Perhaps, now gold has been golden. Gold is chosen as the best alternative option to invest into by the investors who are worried and quite apprehensive over current market situations. Mostly the fear of raging Inflation, then international conflicts like Iran nuclear row, Venezuela’s challenges to the US, Nigerian violence etc. are some major factors that raise insecurity among the investors. They fear that their other monetary assets will lose value in this process. It is well expected that the gold price will soar when the world economic state is going through such a hard situation.