The wedding season has started. There is a rise in demand for gold and silver in Delhi. In two days this week, the price of gold has seen an increase of Rs 1000 per ten grams. On the other hand, silver has created a ruckus in Delhi. In two days, the price of silver has seen an increase of more than Rs 3,300 per kg. According to experts, the demand for gold and silver has increased in view of the wedding season. On the other hand, the fall in the dollar index is also being cited as a major reason for the rise in gold prices. In the coming days, a similar rise in gold prices may be seen in the local market of Delhi. Let us also tell you what is the price of gold and silver in Delhi at present?
Gold and silver became expensive for the second consecutive day
On Tuesday, the price of gold in the bullion market of the country’s national capital Delhi increased by Rs 600 to Rs 78,050 per 10 grams. On Monday, gold of 99.9 percent purity closed at Rs 77,450 per 10 grams. The price of gold of 99.5 percent purity increased by Rs 600 to Rs 77,650 per 10 grams. In the last session it had closed at Rs 77,050 per 10 grams. On Monday, silver jumped by Rs 1,500 to Rs 93,500 per kg. Its previous closing price was Rs 92,000 per kg.
Gold rose by Rs 1,000 and silver by Rs 3,310 in two days
The special thing is that gold prices have seen an increase of Rs 1000 in two days. On Monday, an increase of Rs 400 per ten grams was seen in the price of gold. On the other hand, an increase of Rs 3,310 has been seen in the price of silver. On Tuesday, an increase of Rs 1,500 was seen in the price of silver. On the other hand, an increase of Rs 1,810 was seen on Monday. Traders said gold prices also rose due to increased purchases by local jewelers and retailers for weddings.
What are the experts saying?
In international markets, Comex gold futures rose by $ 19.50 an ounce to reach $ 2,634.10 an ounce. Comex silver futures rose 0.79 percent to $31.47 an ounce in Asian trading hours. Jatin Trivedi, Vice President Research Analyst (Commodity and Currency) at LKP Securities, said that gold prices have increased due to increasing geopolitical tensions. Also, the Russia-Ukraine conflict has raised fresh fears about nuclear risks, which has increased the demand for gold as a safe investment option.
According to Saumil Gandhi, Senior Analyst (Commodity), HDFC Securities, gold crossed a one-week high of $ 2,615 an ounce on Tuesday due to fall in US bond yields, dollar and demand for safe investments. There was a strong rise in gold this year and it made many records, but due to the strengthening of the dollar after the victory of Donald Trump in the US presidential election, bullion prices have been affected.
