New Delhi, 5 June (IANS). Gold and silver prices saw a rise on Friday and the price of 24 carat gold has increased to more than Rs 99,000 per 10 grams and silver has crossed Rs 1.06 lakh per kg.
According to the price released by the India Bullion Jewelers Association (IBJA) in the evening, the price of 24 carat gold has increased by Rs 1,603 to Rs 99,058 per 10 grams, which was Rs 97,455 per 10 grams on Thursday.
The price of 10 grams of gold of 22 carats has increased to Rs 90,737, earlier Rs 89,269 per 10 grams. At the same time, the price of 10 grams of 18 carats has increased to Rs 74,294, which was earlier Rs 73,091 per 10 grams.
The prices of gold and evening gold are released twice a day by IBJA.
Along with gold, the price of silver has also increased. In the last 24 hours, the price of silver has increased by Rs 669 to Rs 1,06,167 per kg, which was earlier Rs 1,05,498 per kg.
Colin Shah, managing director of Cama Jewelery, said that due to geopolitical tension and weakening of Indian rupees, gold prices in the country are expected to reach the highest level.
He further said that gold prices may face resistance in short term, but gold on MCX can be between Rs 1,00,200 to Rs 1,00,500 per 10 grams due to international economic and political developments.
In the international market, gold and silver prices are also seeing a rise. By the time the news was written, the gold rose by 1.62 percent to $ 3,457.20 an ounce and silver rose by 0.10 percent to $ 36.31 an ounce.
Since January 1, the price of 10 grams 24 carat gold has increased from Rs 76,162 to Rs 22,896 or 30.06 percent to Rs 99,058. At the same time, silver price has also increased from Rs 86,017 per kg to Rs 20,150 or 23.42 percent to Rs 1,06,167 per kg.
-IANS
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