Gold Price: Due to the strong trend in the prices of precious metals in the global market and continuous buying by jewelers, the record rise in the price of gold continues. On Thursday, the price of gold crossed the record level of Rs 78,000 per 10 grams with a rise of Rs 400 in the bullion market of the national capital Delhi. According to the All India Sarafa Association, there was a record rise in gold for the second consecutive day. On Thursday, gold reached Rs 78,250 per 10 grams with a rise of Rs 400.
On Wednesday, the price had reached Rs 77,850 with an increase of Rs 900
Let us tell you that on Wednesday, the price of gold closed at Rs 77,850 per 10 grams with a rise of Rs 900. Silver also rose by Rs 1,000 to Rs 94,000 per kg due to strong demand from industrial units and coin makers amid strong foreign trend. Whereas on Wednesday, the price of silver closed at Rs 93,000 per kg with a rise of Rs 3000.
Gold of 99.5 percent purity also reached a new record of Rs 77,900
Apart from this, gold of 99.5 percent purity also reached a new record high of Rs 77,900 per 10 grams. Whereas in the previous session (Wednesday), gold of 99.5 percent purity closed at Rs 77,500 per 10 grams. Traders said that the rise in local demand as well as the strong global trend has supported the prices of gold.
Gold prices also made a new record on MCX
Meanwhile, on the Multi Commodity Exchange (MCX), the price of gold contract for October delivery rose by Rs 162 to Rs 75,475 per 10 grams. The price of silver contract for December delivery rose by Rs 1,034 to Rs 93,079 per kg. On the other hand, Comex gold rose 0.61 percent to $ 2,701.20 per ounce in the international markets.
Why is the price of gold increasing
“The easy monetary policy of major western central bankers and growing war concerns in West Asia have led to a recent upward trend in gold,” said Saumil Gandhi, Senior Analyst (Commodity), HDFC Securities. Saumil Gandhi said that in addition to the weakness in the US dollar, it also supported the precious metals. Silver also rose 2.63 percent to $ 32.86 an ounce in Asian trading hours.
