There is a continuous bounce in the price of gold.
Gold stands at the mouth of Rs 1 lakh per 10 grams. Gold prices reached close to Rs 1 lakh per 10 grams in the national capital on Monday due to the rise in bullion prices. According to PTI news, the All India Bullion Association says that yellow metal with 99.9 percent purity reached Rs 99,800 per 10 grams on Monday. On Friday, its price was reduced by Rs 20 to Rs 98,150 per. In the local markets, gold with 99.5 percent purity rose Rs 1,600 to a new peak of Rs 99,300 per 10 grams. In the last session, it closed at Rs 97,700 per 10 grams in the last session.
Silver price also faster
Silver along with gold also became expensive on Monday. Today, silver prices also rose by Rs 500 and it reached Rs 98,500 per kg. Silver was stable at Rs 98,000 per kg on Friday.
Gold became expensive by Rs 20,850 since 31 December
The price of gold has increased by Rs 20,850 or 26. 41 percent per 10 grams from 31 December last year. Kotak Mahindra AMC fund manager Satish Dondapati said that gold has so far increased by more than 25 percent, including a 6 percent increase since the announcement of tariffs on 2 April by the US administration.
Gold in MCX and International Market
Gold futures for June delivery at the Multi Commodity Exchange (MCX) rose by Rs 1,621 to a new high level of Rs 96,875 per 10 grams. Gold in international markets rose to a new peak of $ 3,397.18 an ounce. It later traded at $ 3,393.49 an ounce. Globally, the gold futures first crossed the psychological level of $ 3,400, rising $ 80 an ounce or 2.4 percent. Gold prices continued to rise and climbed up for some time at $ 3,400 an ounce.
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