New Delhi, 10 February (IANS). The price of gold has crossed Rs 85,000 per 10 grams on Monday due to global instability. This is the highest level of gold so far. The rise in this is due to the increase in instability globally due to the announcement of 25 percent tariff on steel and aluminum products by US President Donald Trump.
According to the Indian Bullion and Jewelers Association (IBJA), the price of 24 carat gold has increased by Rs 671 to Rs 85,370 per 10 grams, which was Rs 84,699 per 10 grams on Friday.
The price of 22 carat gold has increased to Rs 83,320 per 10 grams, 20 carat gold has been priced at Rs 75,980 per 10 grams and 18 carat gold to Rs 69,150 per 10 grams.
The price of gold futures in the April 4 contract on Multi Commodity Exchange (MCX) has reached all-time high 85,384 per 10 grams.
Currently, the contract was trading at Rs 85,325 per 10 grams with a rose by 0.51 percent.
In international markets, the price of gold is running on all-time high. The price of gold has reached $ 2,923 an ounce.
Usually whenever global instability increases, there is a sharp jump in gold prices due to safe investment.
Gold prices in international markets have witnessed a rise of up to 9 percent since the beginning of January.
According to Colin Shah, MD of Cama Jewelery, gold may be boom in the coming times. In international markets, the price of gold can reach $ 3,000 an ounce and Rs 88,000 per 10 grams in domestic markets.
The rupee is made on all-time low. It has fallen by 49 paise to 87.92 against the dollar on Monday.
-IANS
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