Gold price reached new peak in bullion market
The price of gold on MCX today opened at Rs 85,715 per 10 grams. However, shortly after the business started, the price of gold reached an intrade of Rs 85,690 per 10 grams. However, prices returned and touched the Intrade High of Rs 85,890. However, despite this weak start, gold prices on MCX are ready to shut down at a high level 7th consecutive week. Let us tell you that this will be the longest rally after the rally in the gold price during Corona in the year 2020. By the time the news was written, the delivery of April 4 was trading at a price of Rs 85,800 per 10 grams with a fall of 0.26 percent.
Gold price reached new peak in bullion market
On Thursday, there was a slight increase in gold prices in the bullion market of the capital Delhi. But despite this slight increase, the price of gold once again reached its new lifetime high, making a new record. On Thursday, the price of gold of 99.9 percent purity in Delhi increased by Rs 50 to a new record level of Rs 89,450 per 10 grams. With this, gold with 99.5 percent purity also rose by Rs 50 to a record level of Rs 89,050 per 10 grams. On Wednesday, gold with 99.9 percent purity closed at Rs 89,400 per 10 grams.
Why so fast in gold prices
Soumil Gandhi, Senior Analyst (Commodity) of HDFC Securities said, “Gold reached a new record level on Thursday as there has been an increase in demand for gold as a safe investment option due to news about Donald Trump’s tariff policy. . “Trump said on Wednesday that he would impose tariffs on Timber, Automobile, Semacist and Pharma next month or before. Gandhi said, “This news has further increased the fear in the market that Trump’s policy can promote Global Trade War, which will lead to a jump in gold prices as a safe investment.”
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