Globally, the spot gold also rose $ 5.50 to $ 2,941.55 an ounce.
The price of gold is not taking the name of stopping. On Monday, the price of gold in the national capital rose by Rs 350 to close to a record level of Rs 89,100 per 10 grams. On Friday, this precious metal with 99.9 percent purity closed at Rs 88,750 per 10 grams. According to the news of PTI, gold with 99.5 percent purity rose by Rs 350 to Rs 88,700 per 10 grams, while the previous day it closed at Rs 88,350 per 10 grams. According to the All India Bullion Association, however, silver remained stable at Rs 1 lakh per kg.
US dollar promoted additional precious metal
According to the news, in the midst of a global strong trend, Senior analyst of Commodities of HDFC Securities, Soumil Gandhi said that the demand for safe investment to avoid uncertainty due to geopolitical and business tensions continued to increase gold on Monday. . Last week, gold with 99.9 percent and 99.5 percent purity touched a new height of Rs 89,450 and Rs 89,050 per 10 grams respectively. Gandhi highlighted that the US dollar has given additional promotion to precious metal. The dollar index fell for the third consecutive week and is trading less between mixed American macro data.
Gold in futures market
Gold contracts for April delivery in futures trading on Multi Commodity Exchange (MCX) increased by Rs 118 to Rs 86,128 per 10 grams. VP Research Analyst of LKP Securities – Commodity and Currence, Jatin Trivedi said that gold registered a slight lead and traded in a realm, which was supported by Comex Gold from being above $ 2,925. The weakness of the rupee gave additional support to MCX Gold. Comex gold futures for April delivery were spoken at $ 2,954.71 an ounce in foreign markets. Globally, the spot gold also rose $ 5.50 to $ 2,941.55 an ounce.
Gold hopes to continue to rise
Chintan Mehta, Chief Executive Officer of Abus Holdings, said that gold prices remain around the highest level so far due to the weakening of the dollar amidst the increase in Jio politics and economic uncertainty. Mehta said that gold is expected to continue to continue due to strong investment demands, as the central banks around the world continue to accumulate gold to protect against economic instability and policy uncertainty.
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