New Delhi, June 8 (IANS) The price of both gold and silver has been seen this week. The price of gold increased by more than Rs 1,700. At the same time, the price of silver has increased by more than Rs 7,800.
According to the India Bullion and Jewelers Association (IBJA), 10 grams of gold of 24 carats is priced at Rs 97,145, compared to Rs 95,355 on the same day a week ago, which shows a gain of Rs 1,790 in the price of gold.
At the same time, the price of silver in the review period has increased by Rs 7,827 to Rs 1,05,285 per kg, which was earlier Rs 97,458 per kg. Silver remains close to its all-time level.
There have been many global developments in recent times, which have helped increase the prices of gold and silver. This includes increasing tension between Russia and Ukraine, imposing tariffs on steel and aluminum by the US President and banning the export of rare economy by China.
The demand for gold and silver increases worldwide due to the time being safe at the time of global uncertainty and their prices increase due to limited supply.
Cama Jewelery MD Colin Shah said that due to global reasons, gold prices in domestic and international markets continue to fluctuate. Investors are eyeing the meeting of the US Fed to be held in the middle of this month and only after that the direction of gold move will be decided globally.
Since January 1, the price of 10 grams 24 carat gold has increased from Rs 76,162 to Rs 20,983 or 27.55 percent to Rs 97,145. At the same time, silver price has also increased from Rs 86,017 per kg to Rs 19,268 or 22.40 percent to Rs 1,05,285 per kg.
-IANS
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