Gold-silver prices.
The direct impact of the geopolitical changes taking place at the global level is visible today on the domestic bullion market. The news of the peace agreement between America and Iran has completely changed the trend of the commodity market. As soon as this news came out, a huge jump was recorded in the prices of gold and silver on Multi Commodity Exchange (MCX). The situation is that gold has jumped by more than Rs 2,600 to reach the level of Rs 1,53,157 per 10 grams. The shine of silver has also increased tremendously, in which a strong rise of Rs 5,564 has been seen.
Why did this huge rise in precious metals happen?
The biggest reason behind this strong rise is a positive turn in international politics. According to US President Donald Trump, Washington and Tehran have expressed their full consent to a much-awaited peace agreement. After this agreement, there is hope that the conflict which was going on continuously for the last four months in Western Asia will end completely. Both the countries have made a big announcement to stop their military activities on all fronts with immediate effect. The news of this peace agreement has returned the confidence of investors in the market, as a result of which suddenly huge buying pressure increased in the domestic market.
What is today’s price on MCX?
As soon as the commodity market opened, investors bought heavily today. If we look closely at the data, August delivery gold futures (AUG) on MCX opened at Rs 1,53,157 per 10 grams with a huge rise of 1.55 percent i.e. Rs 2,629. The thing to note is that in the last trading session it had closed at Rs 1,50,528. Silver has also made investors happy today. Silver (JUL) for July delivery on MCX took a huge jump of 2.26 percent i.e. Rs 5,564 and reached the level of Rs 2,51,750 per kg.
Gold and silver in retail market
Amidst the global cues, today there has been a huge jump in the prices of both gold and silver in the domestic retail bullion market. According to India Bullion Rates, gold has increased by a huge increase of ₹ 2,530 (1.68%) to reach ₹ 1,53,440 per 10 grams, while a huge increase of ₹ 5,580 (2.25%) has been recorded in the prices of silver, due to which its price is now at a new price of ₹ 2,53,230 per kg. Has reached a higher level.
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Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsh advises its readers and viewers to consult their financial advisors before taking any money-related decisions.
