The price of gold has increased by Rs 10,010 per 10 grams so far this year.
The price of gold has destroyed all the records so far. Gold in the national capital rose by Rs 900 to an all -time high of Rs 89,400 per 10 grams on Wednesday. According to PTI news, the All India Bullion Association gave this information. In the last trading session, gold with 99.9 percent purity closed at Rs 88,500 per 10 grams. On 14 February, it rose by Rs 1,300 to an all -time high level of Rs 89,400 per 10 grams in local markets. On Wednesday, the price of silver also increased by Rs 600 to Rs 99,600 per kg.
Gold has become so expensive this year so far
According to the news, the price of gold has strengthened amidst strong global trends. So far this year, the price of gold has increased by Rs 10,010 or 12.6 percent to Rs 89,400 per 10 grams, while on 1 January it was priced at Rs 79,390 per 10 grams. In addition, yellow metal with 99.5 percent purity rose by Rs 900 to reach its all -time high of Rs 89,000 per 10 grams. In the last session, it was closed at Rs 88,100 per 10 grams.
Gold in futures market
According to experts, gold continued on Wednesday due to President Trump’s new tariff threats and continuous purchasing as well as increasing geopolitical uncertainty. Meanwhile, gold contracts increased by Rs 479 to Rs 86,592 per 10 grams for a record high level for April delivery in the afternoon trading in futures trading on MCX. The next month’s contract also touched a record of Rs 87,320 per 10 grams.
Silver futures for March delivery on Multi Commodity Exchange (MCX) increased by Rs 589 to Rs 97,437 per kg. Comex gold futures rose $ 12 to a record high level of $ 2,960 an ounce for April delivery. Last week, it reached the highest level of US $ 2,968 an ounce in global markets.
What do experts say
VP Research Analyst of LKP Securities – Commodity and Currency, Jatin Trivedi said that gold continued to rise. Constant global uncertainty due to tariffs has strengthened the gold position as a safe-property, banks and funds have maintained high allotment. Comex silver futures were also trading at US $ 33 an ounce in the Asian market hours. Senior analyst at Commodities of HDFC Securities, Saumil Gandhi said that investors are waiting for the US Fed Reserve Federal Open Market Committee (FOMC) Monetary Policy Meeting minutes and the building permit data released on Wednesday.
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