gold Silver
In the country’s capital Delhi, gold prices have seen a rise in the second consecutive day. In two days, the price of gold has seen an increase of 1200 rupees. On the other hand, there has been a tremendous rise in silver prices. In two days, silver prices have seen a rise of Rs 2,500 per kg.
According to experts, Global Trade Tension and Fed are supporting the rate of rate cut in the month of September. Now the biggest question is whether gold prices will continue to rise in the coming days or not? By the way, this boom has been seen a day before the decision of RBI MPC. Let us also tell you how much gold prices have gone in the country’s capital Delhi?
Gold and silver became expensive in Delhi
According to the All India Bullion Association, the price of gold in the national capital on Tuesday increased by Rs 800 to Rs 98,820 per 10 grams due to heavy purchases of stockists. At the time of the last market closure, gold with 99.9 per cent purity closed at Rs 98,020 per 10 grams. In the national capital, gold with 99.5 per cent purity increased by Rs 700 to Rs 98,500 per 10 grams (including all taxes) on Tuesday. On Monday, this precious metal was closed at Rs 97,800 per 10 grams.
According to experts, gold prices rose on Tuesday due to the demand for safe investment and the increasing consensus of the US Federal Reserve on Tuesday due to the increasing consensus to resume the interest rate cuts. According to the bullion association, silver prices rose by Rs 2,000 to Rs 1,12,000 per kg (including all taxes) on Tuesday. Silver closed at Rs 1,10,000 per kg in the last market session.
Why Gold became expensive?
Soumil Gandhi, Senior Analyst (Commodities) of HDFC Securities, said that traders have become more optimistic about the fed up in September meeting to be held in September due to the softened comments of the Federal Reserve officials and the disappointing employment market report of last week, which has increased more optimistic about the cuts in the fades to be held in September, which has increased the enthusiasm of gold traders. Praveen Singh, Associate Vice-President of Fundamental Currency and Commodities in Mirae Asset Share Khan, said that the threat of threatening to put a lot of tariffs on India on Russia by US President Donald Trump on Russia also gave gold to gold and the Indian rupee fell to Rs 888 per dollar in the NDF market.
What to do now investor?
Kayanat Chanwala, AVP of Commodity Research in Kotak Securities, said that gold remains stable around $ 3,430 an ounce as the markets are waiting for ISM services PMI and the latest American business balance data to be released. Jatin Trivedi, Vice President Research Analyst (Commodity and Currency) of LKP Securities said that the main focus remains on trade fee developments, as the US is considering re -resetting the fees in its favor. He further stated that despite the short -term decline, gold prices continue to fall due to trade fee uncertainty and widespread impact of dollar weakness, giving support to the overall trends.