Gold hits record Rs314 000 per tola Newspaper

The prices are significantly higher than the previous day’s prices, with a 3.5% increase in the 10-gram gold price and a 4.5% increase in the one-tola gold price. The gold market has experienced a significant surge in prices over the past few weeks, with the prices of 10-gram and one-tola gold reaching record highs.

The Rise of Gold Reserves

The United States has been actively accumulating gold reserves for several years, with the goal of increasing its gold holdings to 8,133.5 tonnes by 2027. This move is part of a broader effort to diversify its foreign exchange reserves and reduce its dependence on the US dollar.

The US has been buying gold from various countries, including China, Russia, and Turkey.

The gold reserves are stored in the Federal Reserve Bank of New York.

The US gold reserves are valued at around $200 billion.The Impact on Investors

The recent surge in gold prices has led to a significant increase in demand from investors worldwide.

The Impact of High Gold Prices on Families

The gold market has seen a significant increase in prices over the past few years, affecting families in various ways. One of the most notable effects is the restriction on buying jewellery sets for daughters, as families struggle to afford the high prices. • Families with limited budgets are forced to make difficult choices, such as choosing between buying gold jewellery for their daughters or other essential items. • The high prices also lead to a decrease in the number of gold jewellery sets being sold, resulting in a surplus of gold in the market.