Gold, Silver, Sensex, Nifty: From gold and silver to the stock market, records were made. On Wednesday, gold and silver reached an all-time high. At the same time, the major sensitive index of the stock market, Sensex-Nifty, came into form an hour before the market closed and created a new history. Both reached an all-time high. Amidst the rise in the prices of precious metals in the global market, the price of gold in Delhi’s bullion market on Wednesday rose by Rs 900 to a new record level of Rs 77,850 per 10 grams. If we talk about IBJA rates, 24 carat gold closed at Rs 75248 across the country on Wednesday. Whereas, silver ended Wednesday’s trading at Rs 90730 per kg.
Silver rose by Rs 3,000 to Rs 93,000 per kg due to fresh demand from industrial units and coin makers. In the previous close, silver closed at Rs 90,000 per kg. Apart from this, gold of 99.5 percent purity also rose by Rs 900 to an all-time high of Rs 77,500 per 10 grams. In the last session, gold closed at Rs 76,600 per 10 grams. Experts said that in the near future, gold prices in the international markets may cross $ 3,200 per ounce.
Also read: Why did the price of gold rise? Where will gold reach, silver will touch 120000
why is gold jumping
Gold prices hit record highs on Comex as well as on the domestic front due to the recent rally amid continued optimism about a US interest rate cut. The focus is also on cues coming this week and rising geopolitical tensions.
Gold loan has no effect
Gold loans disbursed by banks and non-bank lenders will cross the Rs 10 lakh crore mark by the end of FY25. ICRA Ratings said the volume of such loans will cross Rs 15 lakh crore by the end of FY27. According to the report, RBI’s directives stopping cash disbursement on loans above Rs 20,000 have not significantly impacted the business.
Sensex and Nifty closed at new peaks
The BSE benchmark index Sensex closed above the 85,000 mark for the first time on Wednesday, while the Nifty also hit a new all-time high. Buying in banking and power sector stocks in the last few hours of the day’s trade helped the stock markets recover initial losses. In volatile trading, the Sensex closed at an all-time high of 85,169.87 points, up 255.83 points. During the day, it had risen 333.38 points or 0.39 percent to a high of 85,247.42 points.
On the other hand, the Nifty closed at a record high of 26,004.15 points, up 63.75 points. During the day’s trading, it rose 92.4 points or 0.35 percent to a new high of 26,032.80 points.
Among the 30 Sensex companies, Power Grid, Axis Bank, NTPC, Bajaj Finserv, Bajaj Finance, Tata Steel, Mahindra & Mahindra and HDFC Bank gained significantly. On the other hand, Tech Mahindra, Tata Motors, Titan, Kotak Mahindra Bank, State Bank of India and JSW Steel closed with losses. Market experts said, after trading in a limited range, the major indices registered gains, led by power and banking sector stocks.
