New Delhi, 5 June (IANS). The prices of both gold and silver saw a rise on Tuesday and the price of 24 carat gold has increased to Rs 96,000 per 10 grams and the price of silver has reached Rs 1.07 lakh per kg.
According to the India Bullion Jewelers Association (IBJA), the price of 24 carat gold has increased by Rs 495 to Rs 96,359 per 10 grams, which was Rs 95,864 per 10 grams on Monday.
The price of 10 grams of gold of 22 carats has increased to Rs 88,265, which was earlier Rs 87,811 per 10 grams. At the same time, the price of 10 grams of 18 carats has increased to Rs 72,269, which was earlier Rs 71,898 per 10 grams.
There has been a huge increase in the price of silver with gold. In the last 24 hours, the price of silver has increased by Rs 1,440 to Rs 1,07,000 per kg, which was earlier Rs 1,05,560 per kg.
Jatin Trivedi of LKP Securities said that the price of gold has been stable around $ 3,315-3,320 and Rs 97,000 due to investors waiting for the US-China trade talks updates. A positive and a strong tariff deal will push gold below Rs 95,000, while any dissatisfied comment can take the price to be around Rs 98,500 and around $ 3,360. In the coming week, investors are also eyeing US CPI numbers.
Gold and silver are being traded in the international market. By the time the news was written, the gold gained 0.23 percent to $ 3,362.70 an ounce and silver was 0.17 percent to $ 36.76 an ounce.
Since January 1, the price of 10 grams of gold of 24 carats has increased from Rs 76,162 to Rs 20,197 or 26.51 percent to Rs 96,359. At the same time, silver price has also increased from Rs 86,017 per kg to Rs 20,983 or 24.39 percent to Rs 1,07,000 per kg.
Additionally, Trivedi said that the rupee stabilized near 85.67 and reached a positive level last week due to a reduction in rate of 0.50 percent. The US CPI data that comes this week will be a major driver for the dollar index, which is expected to remain in a limited range between 85.25 and 86.00. “
-IANS
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