On September 10, 253 days of the current year and 6,072 hours have passed. During this time, gold has been seen in the country’s capital Delhi, an increase of Rs 34,050 has been seen. The special thing is that in the current year, there has been a record of more than 43 percent in gold prices. By the way, on September 10, there has been a slight increase in the price of gold. Even after that, the price of gold is visible at the record level. Whereas on Tuesday, the price of gold was seen by more than 5 thousand rupees.
In contrast, there has been a decline in silver prices, after which the price has come down from the record level. According to experts, tension is being seen once again in the middle East. On the other hand, the fed has also made up its mind to cut interest rates. Due to which the price of gold can be seen further in the coming days. According to experts, the price of gold in Delhi can reach Rs 1.25 lakh per ten grams by Diwali. Let us also tell you how much gold prices have gone in the country’s capital Delhi?
Gold price at record level
On Wednesday, gold prices in the national capital rose by Rs 250 to a new peak of Rs 1,13,000 per 10 grams. The global central banks’ vigorous purchases, weak dollars and geopolitical uncertainties came to this fast. According to the All India Bullion Association, on Tuesday, this precious metal was closed at Rs 1,12,750 per 10 grams with a rapid of Rs 5,080.
On Wednesday, gold of 99.5 percent purity also rose by Rs 250 to Rs 1,12,500 per 10 grams (including all taxes) to the all -time high level. According to experts, gold is continuously trading around record high height, which is getting help due to the weakening of the US dollar index, which has reached a seven -week low, and the rising expectations of heavy cuts in interest rates in the coming months are also supporting it.
How much increased in the current year
If we talk about the current year, then the prices of gold have seen an increase of more than 34 thousand rupees. Talking about the figures, 253 days and 6,072 hours have passed so far in the current year. During this time, the price of gold has seen an increase of Rs 34,050. This means that gold has given 43.12 percent return to investors during this period. By the way, on December 31, 2024, the price of gold was Rs 78,950 per 10 grams. Which has increased to Rs 1,12,750 per 10 grams on September 10.
Meanwhile, silver prices fell from a record level to Rs 300 to Rs 1,28,500 per kg (including all taxes) on Wednesday. According to the association, the white metal closed at Rs 1,28,800 per kg in the last session. In foreign markets, the spot gold was trading at $ 0.85 percent to $ 3,657.09 an ounce. On Tuesday, this yellow metal reached a new peak of $ 3,674.75 an ounce. Silver spot rose 0.88 percent to $ 41.23 an ounce.
What are you saying
Chintan Mehta, CEO of Abson Financial Services, said that gold has also gained additional strength due to the decline in the US Treasury Yield and the growing geopolitical tension in the Middle East region, although it seems that most of its parts have already been decided. ” Commodity Desk and CRM chief NS Ramaswamy in Ventura said that the policy possibilities of the US Federal Reserve, the accumulation of central banks at the global level, geopolitical tension, ETFs and institutional flows are the main reasons for this precious metal rapid.
Ramaswamy further said that gold is now becoming the main part of people’s portfolio. He further said that gold prices are reaching new heights in France, Japan amidst new political crisis and US sanctions on Russia. Apart from this, the speculation of interest rate cuts has intensified after the weak employment report in the US on Friday.
Ramswamy said that the market participants will keep a close watch on the Economic Data, including the PPI released today and the CPI released on Thursday, which could affect the decisions of cuts in the fed interest rates and the perception of bullion prices in the near future.