Gold & Silver Prices

Gold and silver  prices in Kanpur are affected by a number of factors such as an overall demand for gold in India, seasonal factors such as weddings and festivals special occasions , and global policies such as the dollar rupees conversion rate and many more. At times, fluctuations are so rapid and significant that the gold rate in Kanpur changes in a matter of a few hours. Gold has always considered one of the most effective tools to tide over financial crises.

Geopolitical crises: Gold as an asset class has a very negative relation and correlation with other assets in the world. In times of geopolitical tension, economic slowdown, and increased volatility in financial markets, the demand for gold usually increases which also pushes up the prices of gold.
Import Duty: India at the present scenario imports gold to meet its existing demand for consumption or investment. An increase in import duty will directly affect the gold rates in Kanpur to increase.
US-dollar rupee equation:  Gold and US dollar share an inverse relationship. Any change in the US dollar will directly impact the gold rate in Kanpur.
Interest Rates: It is seen in a past that interest rates have a negative correlation with gold and silver prices. It is because people start to flock to fixed-income investments when central banks increase interest rates, which causes the demand for gold to decrease day by day, and that definitely affects really badly the economy of the country.