Increasing gold prices diminish the chances of common people who want to invest in it.

For someone who loves gold jewellery, it's always bad news.

However, if we look at the socio-economic situation and the factors involved in the increased prices then things will seem different.

This time the gold price hits a new high of 61k  per 10 grams in India and a one-year high in international markets as a cloud of economic and political uncertainties drew investors to the yellow metal.

In the international markets, gold rose to $2,032 per ounce.

According to Jayantilal Challani, the president of the Madras Jewellers and diamond merchant's association, "Weak industrial growth data, an upset Russia over Finland's decision to join NATO, the banking crisis in the US and the inflationary pressures in the US and Europe have all combined to push up gold prices, as the yellow metal has become a favourite investment haven under the present circumstances."

Source - TOI