Gold price hits historic Rs 50,000 mark! Fear rules the world! This is what you must know now

India (June 25)  Gold price today in Delhi retail bullion market has crossed the historic Rs 50,000 mark to hit Rs 50,405 per 10 gm level. Fear is ruling the world and it is having its impact on India too. According to the commodities experts, the rise in this precious metal is due to the uncertainty in the global economy, weak US economic outlook and the US dollar. Also, a second wave of Coronavirus is expected to sweep the US and other countries and this is adding to the surge in prices.The cumulative result is that investors are rushing towards safe haven investments and that is what gold is all about - the yellow metal provides safety as it retains its value better than all other asset classes. This has helped it to remain an investors' dream investment. And yes, prices are expected to surge further - expert says it may hit Rs 51,000 in Delhi!

Speaking on the reason for the rise in gold price to a record high, Anuj Gupta, Deputy Vice President at Angel Broking said, "The US Fed has already given weak economic outlook for the global economy and yesterday, IMF has also given weak global economic outlook and this has triggered fresh buying of gold globally."

ZeeBusinessNews