New Delhi, 5 June (IANS). Gold and silver prices saw a rise on Thursday and the price of 24 carat gold has increased to Rs 98,000 per 10 grams and silver has crossed Rs 1.04 lakh per kg.
According to the India Bullion Jewelers Association (IBJA), the price of 24 carat gold has increased by Rs 1,416 to Rs 98,163 per 10 grams, which was Rs 96,747 per 10 grams on Wednesday.
The price of 10 grams of gold of 22 carats has increased to Rs 89,917, which was earlier Rs 88,620 per 10 grams. At the same time, the price of 10 grams of 18 carats has increased to Rs 73,622, which was earlier Rs 72,560 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 3,695 to Rs 1,04,675 per kg, which was earlier Rs 1,00,980 per kg.
Jatin Trivedi of LKP Securities said that gold was recorded due to weakness in the dollar and silver reached a 12 -month high. Gold can stay in the range of Rs 97,000 per 10 grams to Rs 99,500 per 10 grams in the coming time.
In the international market, gold and silver prices are also seeing a rise. Gold rose 0.19 percent to $ 3,406.22 an ounce and silver at $ 36.06 an ounce with a weakness of 4.05 percent.
Since January 1, the price of 10 grams 24 carat gold has increased from Rs 76,162 to Rs 22,001 or 28.88 percent to Rs 98,163. At the same time, silver price has also increased from Rs 86,017 per kg to Rs 18,658 or 21.69 percent to Rs 1,04,675 per kg.
Additionally, Trivedi stated that the rupee strengthened due to strong FII flow and positive trend in domestic capital markets. Weakness below 98.75 points in the dollar index also contributed to the strength of the rupee. In the coming time, the rupee can trade within the radius of 85.50 to 86.25.
-IANS
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