Gold prices have seen a rise in the country’s capital Delhi. The main reason for this is the major reason for the fall in rupee and dollar. Once again the price of gold has been passed on the level of 98 thousand rupees. On the other hand, silver prices have also seen a rise. According to experts, the fall in the rupee against the dollar and the breakdown of the dollar index in the international market is the main reasons for the fall in gold prices. In the coming days, the path of gold prices will decline and decline. This means that the prices of gold can be seen in the coming days. Let us also tell you how much gold prices have gone.
Gold and silver become expensive
According to the All India Bullion Association, the price of gold increased by Rs 400 to Rs 98,020 per 10 grams in the national capital Delhi on Monday. Gold with 99.9 per cent purity closed at Rs 97,620 per 10 grams on Friday. In the national capital, gold with 99.5 per cent purity rose by Rs 300 to Rs 97,800 per 10 grams (including all taxes) on Monday. At the time of the last market shutdown, this yellow metal was closed at Rs 97,500 per 10 grams. Apart from this, silver prices rose by Rs 500 to Rs 1,10,000 per kg (including all taxes) on Monday. On Friday, this white metal closed at Rs 1,09,500 per kg.
Why Gold became expensive?
Gold prices were quite strong due to weak rupee and disappointing American massive economic figures on Friday. These figures supported gold prices in the international market and it reached $ 3,355 an ounce. Jatin Trivedi, Vice President of LKP Securities, Jatin Trivedi said that tariff concerns and decline in rupee have further increased the boom. In the coming weeks, investors will focus their attention on the upcoming RBI Monetary Policy Meeting and American Manufacturing figures, which will provide more guidance about the direction of bullion prices in the near future.
Why is gold support?
Meanwhile, gold in New York was trading at $ 3,363.83 an ounce. Praveen Singh, Associate Vice President (Fundamental Current Vice and Commodities) of Mirae Asset Share Khan, said that the spot gold is trading at $ 3,355 an ounce due to the bid of risky properties in the hope of cutting rates. However, due to the heavy fall in Indian rupee due to tariff concerns, domestic gold prices are getting support. However, silver spot in foreign markets rose 0.43 per cent to $ 37.20 an ounce.