Can a record of gold prices be maintained from 50 rupees? This has happened and that too in 24 hours. On Monday, 50 rupees which pushed Gold below the record high. In 24 hours, the same 50 rupees once again brought Gold to the record high Everest. By the way, gold needs Rs 3,550 to reach one lakh rupees. It will be interesting to see whether gold prices in Delhi will come at one lakh rupees before Akshaya Tritiya. On the other hand, silver prices have also seen an increase of Rs 2,500. By the way, gold and silver prices are being seen in the country’s futures market multi -commodity exchange. Let us also tell you how much gold and silver prices have gone in the country’s capital Delhi?
Gold at record level in Delhi
According to the data of the All India Bullion Association, the price of gold rose by Rs 50 to Rs 96,450 per 10 grams in the country’s capital Delhi on Tuesday. On Monday, gold with 99.9 percent purity fell by Rs 50 to close at Rs 96,400 per 10 grams. Gold with 99.5 percent purity rose by Rs 50 to Rs 96,000 per 10 grams reached its all -time high level, while its previous closed price was Rs 95,950 per 10 grams.
Meanwhile, the price of silver increased by Rs 2,500 to Rs 97,500 per kg due to fresh industrial demand. On Monday, silver fell by Rs 500 to close at Rs 95,000 per kg. Globally, the spot gold rose $ 13.67 or 0.43 percent to $ 3,224.60 an ounce. Silver, spotted in the Asian market, fell marginally to $ 32.32 an ounce.
That’s why gold prices are on high
Chintan Mehta, Chief Executive Officer (CEO) of Abson Financial Services, said that gold prices remain close to the highest level so far due to the weakening of the dollar and constant uncertainty over the US trade policy. Mehta said that the upcoming press conference of the US Federal Reserve chief Jerome Pavel will be focused on Wednesday, as investors want signs of the signs of what the central bank can respond if the business tension increases or the economic situation is weak.
What can the situation be next
According to Soumil Gandhi, Senior Analyst-Commodity of HDFC Securities, businessmen are now waiting for the major economic figures of the US including the NY Empire State Manufacturing Index to be released on Tuesday. Apart from this, the market participants will also be waiting for the address of Federal Open Market Committee (FOMC) member Thomas Barkin and European Central Bank (ECB) chairman Christine Lagard for more information. Gandhi said that however, the main focus remains on fee related developments, which can affect the prices of bullion.