There has been a good increase in the price of gold in the country’s capital Delhi during Diwali week. Due to which gold prices reached record high in Delhi. Talking about the figures, an increase of more than Rs 2300 has been seen in the price of gold. If we talk about silver, an increase of Rs 2 thousand has been seen in the past. According to experts, demand for gold and silver prices was seen during Diwali week. The effect of which is also visible in the prices. Let us also tell you what the prices of gold and silver have become.
Increase in gold and silver prices in Delhi
Last week, an increase in the prices of gold and silver was seen in the Delhi bullion market. According to the data, on the last trading day of last week, the price of gold in Delhi was Rs 80,050 per ten grams. Whereas in the last trader of this week, the price of gold in Delhi reached Rs 82,400 per ten grams. This means that this week the price of gold has seen an increase of Rs 2,350. If experts are to be believed, further increase in gold price may be seen.
On the other hand, there has also been a rise in the price of silver, but this increase is less than that of gold. On the last trading day of last week, the price of silver was seen at Rs 99,000 per kg. Whereas the last trader price of silver of this week has reached Rs 1.01 lakh. This means that the price of silver has seen an increase of Rs 2,000 per kg.
MCX also saw a rise
On the other hand, last week there was a slight increase in the price of gold in the futures market of the country. Whereas a big fall was seen in the price of silver. Talking about the figures, on the last trading day of last week, gold was at Rs 78,532 per gram, which reached Rs 78,867 per ten grams on the last trading day of this week. This means that there was an increase of Rs 335 in the price of gold.
On the other hand, there has been a big decline in the price of silver. If we look at the data, the price of silver was Rs 97,134 per kg on the last trading day of the week, which came down to Rs 95,483 per kg on the last trading day of this week. This means that there has been a decline of Rs 1,651 per kg in the price of silver.
What are the experts saying?
If experts are to be believed, the Fed meeting is going to be held in the month of November. It remains to be seen whether the Fed cuts interest rates for the second consecutive time or not. If a reduction is seen then the price of gold will see an increase. If interest rates are kept frozen then the dollar index will increase and the price of gold will fall rapidly. In such a situation, the Fed meeting in the month of November is going to prove to be a big trigger for gold prices.
