Today in the country, there is a rise in the prices of gold and silver with the rally in the stock market. On one hand, Sensex is trading with a rise of about 500 points. On the other hand, the prices of gold and silver have also increased. There has been a strong rise in the prices of both gold and silver in the retail market today. 24 carat gold has reached Rs 1,60,270 for 10 grams. Whereas silver is being sold at the level of Rs 2,68,970 for 1 kg. Continuously rising prices have increased the concern of buyers, while for investors it is considered a strong signal of the market.
If we look at it gram wise, 24 carat gold is available at Rs 16,027 for 1 gram. The rate of 100 grams has reached Rs 16,02,700. Whereas 22 carat gold is trading at Rs 1,46,914 for 10 grams. The special thing is that a year ago the price of 24 carat gold was Rs 86,240 for 10 grams. That means there has been an increase of about 86 percent in just one year. This boom is having a direct impact on the budget of common people.
Big jump in silver in one day
A sharp rise has also been recorded in the price of silver. The rate of 999 fine silver has reached Rs 2,68,970 per kg. Just a day ago it was at Rs 2,53,270. That means a rise of more than 6 percent was seen in a single day. At the same time last year, silver was Rs 96,630 per kg. Accordingly, there has been an increase of about 178 percent in a year.
Bullishness in futures market also
Gold and silver are also trading strongly on Multi Commodity Exchange i.e. MCX. Here gold has reached Rs 1,59,851 per 10 grams and silver has reached around Rs 2,67,669 per kg. It is clear from the ups and downs throughout the day that there is buying pressure in the market.
impact of international market
The effect of increase in prices is also visible in the global market. On the American commodity market COMEX, gold is trading around $ 5,183 an ounce and silver around $ 87 an ounce. The international boom is having a direct impact on the Indian market. Gold and silver prices are rising due to fluctuations in the dollar and increasing demand for safe investments. When uncertainty increases in the market, investors turn to precious metals. If this trend continues, further price fluctuations may be seen in the coming days.
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