Gold Price Today
There is a ruckus in silver prices in Delhi, the capital of the country. In two days, there has been an increase of Rs 5000 per kg in silver prices. According to experts, after the implementation of 50 percent tariff of Trump, there has been an increase in demand for safe haven assets in India. Due to which silver prices have seen an increase. According to experts, the price of silver can increase further in the coming days. On the other hand, the price of gold has been seen for the third consecutive day. Due to which the price of gold is also reaching close to the record level. Let us also tell you how much gold and silver prices have been increased in the country’s capital Delhi.
Silver at record level
On Wednesday, silver prices in the national capital rose by Rs 2,000 to a new peak of Rs 1,20,000 per kg. This happened due to the huge duty imposed by the US on Indian products, traders turning to safe investment options. According to the All India Bullion Association, silver rose by Rs 3,000 to Rs 1,18,000 per kg on Tuesday. This means that in both days, silver prices have reached Rs 5000 thousand per kg.
Sleeping for the third consecutive day became expensive
On the other hand, there has been an increase in gold prices for the third consecutive day. Gold with 99.9 percent purity increased by Rs 500 to Rs 1,01,270 per 10 grams (including all taxes) on Wednesday. At the time of the last market shutdown, this precious metal was closed at Rs 1,00,770 per 10 grams. In addition, gold with 99.5 per cent purity increased by Rs 400 to Rs 1,00,800 per 10 grams (including all taxes) on Wednesday. On Tuesday, it closed at Rs 1,00,400 per 10 grams.
What do you say
Augmont’s research head Renisha Chanani said that gold and silver continue to rise amid increased political uncertainty after President Donald Trump dismissed Federal Reserve Governor Lisa Cook. Chanani said that the move has increased the suspicion of Fed’s freedom and ability to determine the monetary policy without political intervention. Globally, gold in New York is trading at $ 3,375.08 an ounce in New York. The spot silver also fell 1 percent to $ 38.23 an ounce.
Fed governor
According to commodity market experts, the yellow metal was accelerated after Trump’s announcement of immediate removal of Fed Governor Lisa Cook on Monday due to allegations of morgase fraud. After Trump’s move, the dollar declined, which also benefited the prices of bullion in foreign markets. He further stated that later, Cook argued that Trump had no right to dismiss, causing the dollar to compensate for its loss and put pressure on the precious metal. Earlier this year, President Trump also threatened to dismiss Fed President Jerome Powell, which he has repeatedly criticized for not cutting interest rates.