gold price, gold price rising at rocket speed.. why so fast? This is the reason! – gold price jumps ahead of us job data release check other reasons behind the surge

Gold is an asset that can rise in value in times of danger. Gold cannot be shaken by any crisis like inflation, war situation, economic collapse. In fact, the value of gold rises during such crisis.

When inflation rose sharply recently, so did the price of gold. Gold prices rose even as Ukraine-Russia war broke out. In the past few weeks, there have been fears of an international economic collapse.

The price of gold, considered a safe-haven investment, rallied today as bond yields fell, fears of an economic meltdown and a weakening dollar. US employment figures to be released. This is one of the main reasons for the rise in gold prices.

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Employment data, like inflation and bond yields in the United States, is considered an indicator of economic trends. If a lot of people lose jobs it means the economy is not on a good track.

Hence, the value of gold has skyrocketed. Gold prices rose to Rs 52,125 per 10 grams in Mercantile Exchange (MCX) trading in India today. Spot gold price is at $1790.73 per ounce.