Due to trade tension, geopolitical tension and fall in rupee, the price of gold in the country’s capital Delhi saw an increase for the second consecutive day. Due to which the price of gold crossed Rs 1.63 lakh. On the other hand, there has been no change in the prices of silver. If experts are to be believed, we may see an increase in the prices of gold and silver in the coming days. The biggest reason for this is uncertainty regarding tariffs.
On the other hand, all investors’ eyes are fixed on Trump’s speech on February 24. In which he can give a big statement regarding tariff. If Trump sticks to his insistence on tariffs, we may see an increase in gold and silver prices in the coming days. Let us also tell you that after all, we may see an increase in the prices of gold and silver in the country’s capital Delhi.
How much did gold become expensive in Delhi?
According to local market experts, due to continuous buying by stockists and weakening of rupee, the price of gold in the National Capital increased by Rs 400 to Rs 1,63,200 per 10 grams on Tuesday. On Monday, this precious metal with 99.9 percent purity closed at Rs 1,62,800 per 10 grams. However, the price of silver remained unchanged at Rs 2,72,000 per kg (including all taxes).
Traders said increased buying by local jewelers and stockists pushed up gold prices in the domestic market, while the precious metal fell at the international level. In the international market, spot gold was down 1.35 per cent at USD 5,157.16 an ounce, while silver was trading flat at USD 88.19 an ounce. Analysts said that the weakness in the rupee made gold expensive for those holding other currencies, which reduced the impact of the fall in global prices.
Gold and silver become cheaper on MCX
On the other hand, there is a decline in the prices of gold and silver on the country’s futures market Multi Commodity Exchange. First of all, if we talk about gold, at 7.05 pm the price of gold has fallen by Rs 1724 and is trading at Rs 1,59,874 per ten grams. Whereas during the trading session, gold reached the day’s lower level at Rs 1,59,690. On the other hand, the price of silver has fallen by Rs 4,739 and is trading at Rs 2,60,594 per kg. Whereas as per the trading session, the price of silver had come down to the lower level of the day at Rs 2,58,594 lakh crore.