jewelery Today, due to continuous buying of gold by sellers, the price of gold once again reached a new lifetime high. On Friday, the price of gold in the capital Delhi reached a new record level with a rise of Rs 50. This is the third consecutive day when gold prices have registered a rise. According to All India Bullion Association, the price of gold has increased for the third consecutive trading session, due to which the latest price of gold in Delhi today rose to a new lifetime high of Rs 78,300 per 10 grams.
Prices were increased by Rs 900 on Wednesday and Rs 400 on Thursday
Let us tell you that on Thursday, gold had increased by Rs 400 to Rs 78,250 per 10 grams. Whereas a day before this i.e. on Wednesday, the price of gold had closed at Rs 77,850 per 10 grams with a huge increase of Rs 900. Along with gold, the price of silver continues to rise. Silver also rose by Rs 500 today to Rs 94,500 per kg due to fresh demand from industrial units and coin manufacturers. On Thursday, the price of silver had closed at Rs 94,000 per kg.
Jewelers are buying gold heavily to meet the demand of festivals and weddings.
Market sources said that to meet the demand of festivals and weddings, jewelers are continuously purchasing gold in large quantities. Along with this, due to the strong trend in foreign markets, gold prices have reached the highest level of this year. Apart from this, bullion prices also gained momentum due to the US Federal Reserve’s stance that they will maintain the aggressive pace of interest rate cuts this year.
Fall in gold price on MCX
Meanwhile, gold contracts for October delivery fell by Rs 181 to Rs 75,206 per 10 grams in futures trade on Multi Commodity Exchange (MCX). Silver contracts for December delivery fell by Rs 142 to Rs 92,522 per kg. In the international commodity market, gold fell by 0.29 percent at $ 2,687.20 an ounce. Globally, silver also fell 0.36 percent to $ 32.23 an ounce in Asian trading hours.
