There is a continuous increase in the prices of gold in the country’s capital Delhi. Gold prices have seen a rise for the third consecutive day on Thursday. Due to which an increase of Rs 2700 has been seen in the price of gold. On the other hand, silver prices have seen a rise after two consecutive days of decline. Due to which the price of silver has once again crossed Rs 2.70 lakh. If experts are to be believed, there may be fluctuations in the prices of gold and silver. Let us also tell you at what level the prices of gold and silver have reached.
Increase in gold prices
Gold prices in the national capital on Thursday rose by Rs 600 to Rs 1.65 lakh for 10 grams, and silver to Rs 2.71 lakh per kg as traders remained cautiously optimistic on the precious metals amid geopolitical tensions. Continuing its rise for the third consecutive session, gold of 99.9 per cent purity rose by Rs 600 to Rs 1,65,500 (including all taxes) for 10 grams, higher than Wednesday’s closing price of Rs 1,64,900, according to local market watchers. This precious metal has gained Rs 2,700 in the last three sessions.
Silver prices also increased
Traders said ongoing geopolitical tensions in West Asia and concerns over global inflation, despite firming US Treasury bond yields, supported buying of the metal. Market experts said that silver prices also saw an improvement, which increased by Rs 5,000 to Rs 2,71,000 per kg; This was helped by purchasing at cheap prices and improving trend in industrial demand.
Analysts said concerns over the US-Iran conflict and bottlenecks over the Strait of Hormuz kept demand for the precious metals steady, and a weaker rupee also supported local prices. Despite the decline in international markets, domestic bullion prices remained strong. Spot gold fell marginally to $4,534.54 an ounce, while silver slipped nearly 1 percent to $75.39 an ounce.
