Sona crossed a record level of $ 2,900 an ounce in the spot markets in the global market.
Gold has broken all the records so far. In the national capital on Monday, the price of gold rose by Rs 2,430 to an all -time high of Rs 88,500 per 10 grams. According to PTI news, heavy purchases of jewelery vendors and retailers also led to a rise in prices. Precious metal with 99.9 percent purity was closed at Rs 86,070 per 10 grams last week. Gold with 99.5 percent purity in local markets rose by Rs 2,430 to a record high level of Rs 88,100 per 10 grams. The price of silver rose by Rs 1,000 to Rs 97,500 per kg.
Gold prices get support from them
According to the news, according to the All India Bullion Association, due to a strong trend at a global level and weak rupee, there was a tremendous rise in the price of gold in the national capital on Monday. After US President Donald Trump’s announcement of imposing a new duty of 25 percent on all steel and aluminum imports in the US, precious metal in the globally spotted markets crossed a record level of $ 2,900 an ounce.
Futures also bounced
Gold contracts for April delivery in futures trading on MCX rose by Rs 940 and reached a new all -time high level of Rs 85,828 per 10 grams. VP Research Analyst of LKP Securities – Commodity and Currency, Jatin Trivedi said that due to no clarity about which countries are involved or outside, uncertainty in global trade has promoted significant bullion purchases. Traders said that investors are withdrawing money from risky assets like shares, giving priority to safe investment amid global economic uncertainties.
The subsequent contract for June delivery rose by Rs 1,015 or Rs. 18 percent and reached a new summit of Rs 86,636 per 10 grams. Silver futures for March delivery on multi -commodity exchange (MCX) rose by Rs 632 to Rs 95,965 per kg. Globally, comex gold futures rose 45. $ 09 an ounce or 1. 56 percent to a record high level of $ 2,932. Per ounce.
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