Gold and silver prices in Delhi have reached record levels.
Gold and silver prices in the country’s capital Delhi have reached record levels. The special thing is that the price of gold in the capital of the country has seen an increase for the 6th consecutive day. If we look at the data, the price of gold has been more than 1.05 lakh rupees. On the other hand, silver prices in the country’s capital Delhi have crossed Rs 1.26 lakh. Whereas in the futures market of the country, silver prices appeared a lot of Rs 1.25 lakh. Now the biggest question is, why are people breaking up on gold and silver?
According to experts, investors are very nervous due to tariff tension. Due to which the demand for gold is increasing. On the other hand, uncertainty about the freedom of American Central Bank is also a big factor. Due to which the prices of gold are increasing. Let us also tell you that in addition to the country’s capital Delhi, how much gold and silver prices have gone on the futures market of the country?
Gold and silver celebrated records in Delhi
According to the All India Bullion Association, the price of gold has been increased in the sixth consecutive trading session. On Monday, gold prices rose by Rs 1,000 to a new record level of Rs 1,05,670 per 10 grams in the national capital Delhi. Gold prices rose due to the US Federal Reserve expected to cut interest rates this month and strong demand in foreign markets.
Gold with 99.9 per cent purity rose by Rs 1,000 to Rs 1,04,670 per 10 grams on Saturday. In the local market, gold with 99.5 per cent purity rose by Rs 800 to Rs 1,04,800 per 10 grams (including all taxes) to an all -time high level on Monday. It closed at Rs 1,04,000 per 10 grams in the last trading session.
Traders said that in the midst of increasing concerns about the freedom of American Federal Reserve and increasing uncertainty over tariff policies, the trend towards secure investment options of investors rose in precious metals. In addition, silver prices rose by Rs 1,000 to Rs 1,26,000 per kg (including all taxes) on Monday. On Saturday, this white metal reached a record level of Rs 1,25,000 per kg with a huge increase of Rs 6,000.
Gold and silver recorded in futures market
Gold and silver prices are seeing a rise in the country’s futures market multi -commodity exchange. Both have made a new record. Talking about gold on MCX first, after an increase of more than Rs 5000 in August, the price of gold got an increase of Rs 2,113 on the first trading day of September and the price reached a record high with Rs 1,05,937 per ten gram. By the way, at 5.30 pm, the price of gold rose by Rs 956 to Rs 1,04,780 per ten grams.
On the other hand, the price of silver appeared close to Rs 1.25 lakh per kg during the business session on the multi -commodity exchange. With which silver has also made a new record. According to MCX data, during the business session, the price of silver increased by Rs 3,117 and the price came to Rs 1,24,990. By the way, at 5.30 pm in the evening, the price of silver rose by Rs 2,427 to Rs 1,24,300.
Why did gold and silver prices rise?
According to experts, silver in domestic markets reached a record high, mainly due to increase in price of clean energy and electronics and increased prices due to betting in industrial demand. Trivesh D, COO of brokerage firm Tradjini, said that the recent announcement of the US Geological Survey declared silver as an important mineral has also created a new pace.
Kayanat Chanwala, AVP Commodity Research of Kotak Securities, said that in September, the increasing expectations of interest rate cuts, increasing uncertainty over President Donald Trump’s proposed tariff and increasing deadlock between Fed and Trump administration continued to rise. San Francisco Fed Chairman Mary Daily indicated that policy makers may soon be ready to reduce interest rates, saying that tariff -inspired inflation is likely to be temporary.
What else will increase?
Chanwala said that political and business uncertainty remains as an American court has declared President Trump’s comprehensive trade charges illegal. Also, the decision on whether Lisa Cook will be able to continue her fed fee is not expected to be at least before Tuesday. Chintan Mehta, CEO of Abson Financial Services, said that investors will keep an eye on several major events released in the US Labor Market this week, including job opportunities, ADP employment, and non-agri salary, which can affect the direction of Fed’s Monetry Policy.