Weak dollar gave big support to gold prices
Gold Price: Gold purchases are being seen in a tremendous increase in gold purchases as a safe investment due to increasing global uncertainty. On Wednesday, the price of gold with 99.9 percent purity in the bullion market of Delhi reached Rs 1910 to Rs 98,450 per 10 grams. On Tuesday, gold with 99.9 percent purity fell by Rs 490 to close at Rs 96,540 per 10 grams. Apart from this, gold with 99.5 percent purity also rose by Rs 1870 to Rs 98,000 per 10 grams (including all taxes), which closed at Rs 96,130 per 10 grams on Tuesday.
Weak dollar gave big support to gold prices
Chintan Mehta, CEO of Abson Financial Services, said, “Weak dollar has supported gold prices. Investors are also evaluating the sovereign risk after Moody’s bottom of the US credit ratings due to concerns of fiscal deficit. ”Mehta said that it has increased uncertainty about the long -term stability of US finance, inspiring investors to look for safe assets such as gold. Let us tell you that today silver prices also increased by Rs 1660 to Rs 99,160 per kg. Silver closed at Rs 97,500 per kg in the last trading session.
Geophysical stress also sets fire in prices
Gold in the global market increased by $ 21.79 or 0.66 percent to $ 3311.76 an ounce. Soumil Gandhi, Senior Research Analyst (Commodity) in HDFC Securities, said, “Gold on Wednesday retrieved the $ 3300 level amid growing geopolitical stress and American fiscal concerns.” Gandhi said that in the meantime, the ongoing uncertainty about the tariff policy and the major tax reforms of the President Donald Trump have been growing up, which causes the upcoming dollar to increase in investments. Weakening and gold is growing.
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