Gold will become expensive due to Israel-Hamas war, prices will increase due to these reasons

The war between Israel and Hamas has increased the concern of investors around the world. The effect of which is now visible on the commodity market of gold and silver also. The demand for gold has increased rapidly in the market, due to which the premium of gold and silver has increased rapidly. At the same time, gold prices may increase during the festive season also.

A war has broken out between Israel and Hamas. Israel's bombing of Hamas continues. The war that started between the two countries has increased the concern of investors all over the world. The impact of the war is now visible on the commodity market of gold and silver as well. The demand for gold has increased rapidly in the market, due to which the premium of gold and silver has increased rapidly. At the same time, there is a possibility of decline in the stock market due to war. According to experts, due to increase in geo-political tension, gold, silver and dollar may rise.

After the war between Israel and Hamas, the premium of gold has increased by Rs 700 to Rs 2000 per 10 grams. Earlier it was Rs 1300 per 10 grams. It has increased so rapidly that in some places bullion dealers have been prohibited from selling gold.

Demand increased due to war and economic crisis

In fact, the demand for gold increases when there is war and economic crisis around the world. Due to war or economic crisis, investors consider gold as a safe investment option. According to the Indian Express report, Peter Cardillo, Chief Market Economist of Spartan Capital Securities, says that gold is a good option to protect the investment portfolio during international turmoil. Apart from gold, the dollar also strengthens during international turmoil.

Gold and silver prices may increase

The war between Israel and Hamas has started at a time when the festive season has started in India. After the war between the two countries, the demand for gold and silver is increasing rapidly. Demand for gold and silver may increase in India during the festive season, due to which there may be a big increase in the prices of these metals. That means buying gold during the festive season may prove costly for you.

At the same time, recently gold has fallen by about 5 thousand points from its high level and silver has fallen by 13000 points from its high level. For this reason, shopkeepers and investors are more focused on gold and silver. In view of the commodity demand among customers and investors, gold dealers do not want to sell gold and silver right now.

According to the IBJA website, during the last trading week in the bullion market, the price of 24 carat gold was Rs 56,539, 22 carat Rs 51,790 and 18 carat Rs 42,404 per 10 grams. Whereas the rate of silver is Rs 67,095 per kg.