Gold and silver continue to rise. Not only is there a boom in the global market, domestic futures and markets are also being registered. Gold has crossed $ 3100 for the first time in the global market. Yesterday, there was a jump of about $ 50 in a single day, however, the price came down slightly from the peak of $ 3100 and the price of gold is currently running around $ 3090. Gold is also trading around Rs 88,800 in the domestic market. MCX is 1,000 away from record height. The price of gold on MCX has seen an increase of more than 16% in three months due to the recent boom trend.
On the other hand, silver has also increased. Silver in the global market has crossed $ 35 for the first time since 2013. Silver has also crossed 1 lakh in the domestic market. Its price at MCX is running around 10,1520.
What is the latest rate on MCX?
Around 10 am, the gold price at MCX was trading at Rs 88,847 with a gain of Rs 463 per 10 grams, which closed at Rs 88,384 yesterday. Silver futures rose by Rs 89 to Rs 1,01,402 per kg. Yesterday it closed at Rs 1,01,313.
What is the price of 22 and 24 carat gold?
Gold prices rose by Rs 365 to Rs 91,050 per 10 grams in the bullion market of the national capital Delhi amidst strong global trend. On Wednesday, gold with 99.9 percent purity closed at Rs 90,685 per 10 grams. Gold with 99.5 percent purity also rose by Rs 365 to close at Rs 90,600 per 10 grams. Its previous closed price was Rs 90,235 per 10 grams. The price of silver also increased by Rs 200 to Rs 1,01,700 per kg. On Wednesday, it closed at Rs 1,01,500 per kg.
What are the factors that affect gold?
Sumil Gandhi, Senior Analyst (Commodities), HDFC Securities, said, “Gold continues to rise due to increasing global risk perception after the new auto tariff announced by US President Donald Trump on Wednesday.” In the international market, gold spot rose $ 34.77 to a record level of $ 3,054.05 an ounce. Jatin Trivedi, Vice President of LKP Securities, Research Analyst (Commodities and Currency) said that the possible support of Canada has increased the market risk due to the US’s latest threats towards the euro sector, which has further accelerated the demand for safe investment.
According to Chintan Mehta, Chief Executive Officer of Absse Financial Services, there are concerns about Trump’s policies. The central banks are continuing gold storage to protect against economic and geopolitical instability, making the demand for this precious metal strong. Mehta added, “With increasing geopolitical risks in the region, gold continues to shine as a favorite safe-property. Investors are waiting for the upcoming US personal consumption expenditure (PCE) data on Friday, which is a major indicator for the next monetary policy direction of the US Federal Reserve. Reserve will also closely monitor the addresses of the officers.
