Today, gold and silver prices increased on Multi Commodity Exchange (MCX). Gold opened ₹1,700 higher at ₹1,44,852 per 10 grams, while silver opened at ₹2,26,568 per kg. Meanwhile, in the global market too, gold reached its highest level in almost two weeks. Due to increasing tensions in West Asia, investors are turning to safe-haven assets. COMEX gold futures rose 1.17% today to $4,124 an ounce and touched an intraday high of $4,128.40. Silver prices also saw a rise, rising 1.70% to $60.115 an ounce.
In the bullion market, gold prices rose marginally while silver prices declined during morning trade. In the capital Delhi, prices of 24-carat and 22-carat gold (per 10 grams) rose by ₹10 each. Today, the price of 24-carat gold is ₹1,44,380 and the price of 22-carat gold is ₹1,32,360. Silver prices have decreased by ₹100 per kg in Delhi. In Mumbai, Kolkata, Bengaluru and Hyderabad, the price of 24-carat gold per 10 grams is ₹1,44,230, 22-carat gold is priced at ₹1,32,210 and 18-carat gold is ₹1,08,170.
In Lucknow, 24-carat gold price per 10 grams is ₹1,44,380, 22-carat gold price is ₹1,32,260 and 18-carat gold price is ₹1,08,220. The price of 24-carat gold in Patna and Jaipur is ₹1,44,280 and ₹1,44,380 per 10 grams respectively, while the price of 22-carat gold is ₹1,32,360 and 18-carat gold is ₹1,08,320 per 10 grams.
Experts say that the main reason for the increase in gold prices is demand for it as a ‘safe haven’. Tension is increasing in West Asia. Two oil tankers heading from Saudi Arabia to Asia were forced to divert their route in the Red Sea after threats from Yemen’s Houthi rebels, raising concerns about global energy supplies. As a result, investors are moving money into traditional safe-haven assets like gold.
