New Delhi, July 13 (IANS) The price of both gold and silver has seen an increase this week. The price of gold increased by more than 400 rupees. At the same time, the price of silver has increased by more than Rs 2,700.
According to the India Bullion and Jewelers Association (IBJA), 10 grams of gold of 24 carats is priced at Rs 97,511, compared to a week ago, it was Rs 97,021 on the same day, which shows an increase of Rs 490 in the price of gold.
Last week, 10 grams of gold prices of 24 carats increased by Rs 1,237 per 10 grams.
The price of 22 carat gold has increased to Rs 89,320 per 10 grams, which was earlier Rs 88,871. At the same time, the price of 18 carat gold has increased from Rs 72,766 per 10 grams to Rs 73,133 per 10 grams.
At the same time, the price of silver in the review period has increased by Rs 2,710 to Rs 1,10,290 per kg, which was earlier Rs 1,07,580 per kg. Silver remains close to its highest level.
This is the first time that silver has closed above Rs 1.10 lakh per kg on a weekly basis.
The reason for the increase in gold and silver is believed to be global instability. It has increased further due to tariffs on major trade partners Canada, Europe and other countries by US President Donald Trump.
The demand for gold and silver increases worldwide due to the time being safe at the time of global uncertainty and their prices increase due to limited supply.
Since January 1, the price of 10 grams 24 carat gold has increased from Rs 76,162 to Rs 21,349 or 28.03 percent to Rs 97,511. At the same time, silver price has also increased from Rs 86,017 per kg to Rs 24,273 or 28.21 percent to Rs 1,10,290 per kg.
-IANS
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