So far, the prices of gold in Delhi have seen more than 9 thousand rupees in Delhi.
Along with the foreign markets, the local markets of India are also increasing the speed of gold. On Tuesday, gold prices saw an increase of more than Rs 5000. Whereas in the current month of 9 days of the current month, the price of gold has been increased by more than 9 thousand rupees. This means that the price of gold in Delhi has seen a rise of about 9 percent. According to experts, the possibility of cutting interest rates has increased due to the weekly employment data of employment in America. Due to which the dollar index has reached the lower level of 7 months.
The effect of which is being seen as an increase in the price of gold. On the other hand, due to continuous investment in global trade tension, gold ETF, gold prices are also increasing. Central banks from all over the world are doing Gold. Due to which demand has increased. Its effect is also going on in gold prices. Let us also tell you how much gold has gone in the country’s capital Delhi.
Gold at record level in Delhi
On Tuesday, gold prices in the national capital Delhi rose by Rs 5,080 to Rs 1,12,750 per 10 grams of life time high. According to the All India Bullion Association, gold with 99.9 percent purity closed on Monday at Rs 1,07,670 per 10 grams. Silver prices also rose by Rs 2,800 to Rs 1,28,800 per kg (including all taxes) to a high level on Tuesday. In the last market session, this precious metal closed at Rs 1,26,000 per kg.
How expensive gold became in September?
In the current calendar year, the price of this precious metal has increased by Rs 33,800 per 10 grams or about 43 per cent, which increased from Rs 78,950 per 10 grams to Rs 1,07,670 per 10 grams on 31 December 2024. The special thing is that in the month of September, the prices of gold have seen an increase of about 9 percent. In 9 days, the increase in gold prices has been seen by more than 9000 rupees. On the last trading day of August, the price of gold was seen at Rs 1,03,670 per ten grams.
Record breaking gold in foreigners too?
Talking about the global market, gold reached the life time high of $ 3,659.27 an ounce on Tuesday. Later this precious metal was trading at $ 16.81 or 0.46 percent to $ 3,652.72 an ounce. Traders said that last week, weak data of labor market in the US has increased the possibility of relaxation of monetary policy, which has led to the trend of investors towards safe investment properties like gold. The decline in the dollar further emphasized the rise in bullion prices. Gold prices reached another record height on Tuesday, recorded many life -time high levels of this year and an increase of more than 35 per cent in international markets.
Why the price of gold is rising
Soumil Gandhi, Senior Analyst (Commodities) of HDFC Securities, said that the strong demand of central banks, investment in exchange-traded funds and cuts in interest rates have promoted this record-breaking boom in precious metals. Gandhi further said that the constant demand for safe investment properties is due to increasing geopolitical stresses, and concerns about the impact of US President Donald Trump’s tariff on the global economy have also contributed to this speed. According to Kayanat Chanwala, AVP of Commodity Research in Kotak Securities, the market participants will keep a close watch on the US inflation figures earlier this week, which can affect the direction of cutting interest rates in the fourth quarter, although there is no possibility of any change in the expectations of September.
Not only the dollar, the real reason
Trivesh D, COO of brokerage firm Tradjini, said that yellow metal in global markets is hovering around $ 3,659 an ounce, making new records. This bounce is not just a reaction to the optimism of the American Fed, but it is an ideal mixture of broad factors. The Fed (Federal Reserve) has a widespread hope of deducting interest rates two to three times in the next quarter, which will reduce real yields and increase gold appeal. Trivesh D said that the dollar dominance is under pressure as the central banks are continuously diversifying their reserves apart from the American Treasury Bond Yield. This trend has been going on for more than three years. He further said that, with the expansion of Russia-Ukraine War to increasing tariff threats, with frequent geopolitical risks, the basic purchases of safe haven assets have become even stronger.