Gold Rate Today: June 18 Shocking Surge in Gold Prices! Check Today’s Tola Rate Now

Hyderabad: Gold prices in India witnessed a significant surge on Wednesday, June 18. The price of 24-carat gold touched a record high of ₹1,01,870 per 10 grams, while 22-carat gold is now priced at ₹92,400 per 10 grams. Meanwhile, the price of 1 kg silver has also jumped to ₹1,11,800.

Geopolitical Tensions Drive Gold Prices Higher

Market analysts attribute the sharp rise in gold prices primarily to the ongoing geopolitical tension between Iran and Israel. The escalating conflict has led to heightened global uncertainty, prompting investors to turn toward safe-haven assets like gold.

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Comparison with Last Year: ₹25,000 Price Hike

Compared to the same period last year, gold prices have surged by approximately ₹25,000, marking a dramatic year-on-year increase. This steep rise has come as a shock to potential buyers, especially those looking to purchase gold jewellery for weddings or festivals.

Falling Dollar Value Boosts Gold Investment Appeal

Experts also point to the declining value of the US Dollar as another major factor behind the price surge. A weaker dollar makes gold more affordable for investors globally, thereby increasing demand and pushing prices even higher.

Record-High Prices Affect Jewellery Market

With 22-carat gold nearing the ₹93,000 mark, gold jewellery is becoming significantly more expensive. This trend may impact consumer purchasing power in the jewellery market, although it presents an opportunity for gold investors.

Gold ETFs Emerge as a Safer Investment Option

Given the soaring prices, financial advisors suggest investing in Gold Exchange-Traded Funds (ETFs) rather than physical gold. Gold ETFs are considered more secure and liquid, offering better returns without the risks of theft or storage issues.