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The love for yellow metal is an ever-growing story and there is no stopping it.
Gold prices hit a record high a few days back and still, the demand has not faded. Why is this happening?
The yellow metal with its wide range of use from jewellery to electronics has an appeal for its asset as a liquidity commodity. From the time in 500 BC when the first gold coin was used for trading in Turkey, gold trading has evolved as an option like bonds and equities.
The high prices and demand have also boosted due to some countries wanting to diminish their dependence on US dollars in the market which is affecting their trade, seeing gold as a viable option.
The gold reserves are already depleting and with the mining getting difficult, production of gold has also decreased in recent times.
But with the culture and freedom that gold provides and with India and China as main countries of gold consumers can we see more soaring prices in days to come?