Gold prices rose ₹ 1,100 to ₹ 1.21 lakh per 10 grams on Wednesday in the national capital Delhi. According to the All India Bullion Association, gold with 99.9 percent purity rose ₹ 1,100 to ₹ 1,21,100 per 10 grams (including all taxes) to a new highest level. On Tuesday, gold with 99.9 percent purity rose ₹ 500 to close at ₹ 1.20 lakh per 10 grams.
What has changed in silver prices today?
In the domestic bullion market, gold with 99.5 percent purity also rose ₹ 1,100 on Wednesday to a new all -time high level of ₹ 1,20,500 per 10 grams. On Tuesday, it rose ₹ 500 to ₹ 1,19,400 per 10 grams. However, according to the association, silver prices remained unchanged today and stabilized at ₹ 1,50,500 per kg, which is her highest level ever. On Tuesday, silver prices rose ₹ 500 to a new level of ₹ 1,50,500 per kg.
Prices rise due to expectations of interest rate cut by Federal Reserve
Traders said that weakness in the labor market has strengthened hopes of cutting interest rates by the Federal Reserve, giving more support to bullion prices. In foreign markets, the spot gold rose by more than 1 percent to a record high of $ 3,895.33 an ounce, while the spot silver rose by about 2 percent to a high level of $ 47.56 an ounce. Experts believe that the demand for gold and silver will be strong due to the festive season and the upcoming weddings season, which may put further pressure on prices.
