Gold and silver have once again shown tremendous growth in the bullion market of the country. There was a huge jump in the prices of precious metals in Delhi bullion market, due to which there was a stir among investors and jewelery traders. Silver prices in particular surprised everyone, where it recorded a huge jump of around ₹20,500 per kg in a single trading session.
According to market experts, this rise in the prices of gold and silver is due to the strong trend in the international market, movement of the dollar and global economic uncertainties. Investors are again turning to gold and silver as a safe investment option, the direct effect of which is visible on the domestic market as well.
A significant increase was also recorded in the prices of gold in Delhi bullion market. 24 carat gold was seen rising towards new heights, while silver surprised traders with its record rise. Jewelers say that such a jump in prices before the wedding and festival season can hit the pockets of customers.
At the same time, sharp movement was seen in the prices of gold and silver on Multi Commodity Exchange i.e. MCX. During trading, both gold futures and silver futures registered a rise. Increasing buying by investors and positive signals from the international market strengthened the domestic futures market.
Experts believe that due to the ongoing confusion regarding interest rates at the global level, geopolitical tensions and fluctuations in the dollar index, gold and silver may remain volatile in the coming days. Many investors are considering this as a good opportunity for long-term investment, while some people are also keeping an eye on the market for profit making.
According to bullion traders, if the bullish environment continues in the international market, the prices of gold and silver may go up further in the coming time. However, experts are advising investors to invest only after understanding the market movements.
Economic experts say that whenever uncertainty increases in the global market, gold and silver become stronger as safe investment options. This is the reason why at present the demand for both the precious metals is continuously increasing.