New Delhi. Gold has reached historical height. The price of 10 grams of 24 carat gold in the futures market of Multi Commodity Exchange i.e. MCX has increased to Rs 110047. In the past, the price of gold for October delivery on MCX was 1.05 lakh per 10 grams. Till date there has never been such a jump in the price of gold. The price of gold has also been recorded in the international bullion market. Due to the increase in the price of gold in the futures market, the domestic bullion market can also be affected. There will be festivals and weddings in the coming months. Because of this, the price of gold can go up further.
On Tuesday, the December delivery price of gold on MCX increased by Rs 458. This increase in the price of gold was 0.41 percent. At the same time, gold increased by Rs 482 under October delivery in the futures market of MCX and 10 grams of 24 carat gold increased to Rs 1.09 lakh. This is also a record. The price of gold in the international bullion market is increasing. Also, the weakening of the dollar is seeing the effect of gold. The demand for gold increases when the dollar weakens. Which gives a boom in prices.
If the price of gold continues to increase like this, then by December this year, the price of 24 carat 10 grams of gold can also reach 1.25 lakhs. This year, when the price of gold started increasing continuously, the bullion market experts had expressed the possibility that gold could touch 1.25 lakhs by December. Ukraine and Russia’s war, Israeli attacks on Hamas and the tariff imposed by US President Donald Trump are also expected to bounce. Since the onset of Russia and Ukraine War, gold has been constantly expensive.
