gold and silver
The price of gold remained stable at Rs 76,950 per 10 grams in the bullion market of the national capital on Tuesday amid a strong trend in foreign markets. According to market sources, on Monday, gold reached an all-time high of Rs 76,950 after a gap of six months. He said that the yellow metal had earlier touched a record level of Rs 76,950 on March 22 this year. Silver also strengthened to Rs 90,000 per kg due to fresh demand from industrial consumers. Apart from this, gold of 99.5 percent purity also remained stable at Rs 76,600 per 10 grams. Bullion market experts say that the festival season is going to start in the coming days. Due to this, there will be a surge in the demand for gold. This will affect the price of gold and silver. There may be an increase in the price of both precious metals. The price of gold can touch 78 thousand by bankruptcy.
Rise in gold and silver in futures market
Meanwhile, spot gold (24 carat) prices were trading at an all-time high of Rs 76,950 per 10 grams in Delhi markets. On the other hand, gold contract for October delivery rose by Rs 248 to Rs 74,543 per 10 grams in futures trading on the Multi Commodity Exchange (MCX). Silver contract for December delivery also rose by Rs 469 to Rs 89,700 per kg. Globally, gold was trading 0.22 percent higher at $ 2,658.30 per ounce.
Gold reaches new record level
“Gold hit a new record high on Tuesday as several US Federal Reserve members kept the door open for further rate cuts,” said Saumil Gandhi, Senior Analyst-Commodities, HDFC Securities. In Asian trading hours, silver was quoted at $31.21 an ounce. Gold prices on Tuesday rose by Rs 149 to Rs 74,444 per 10 gram in futures trade as speculators created fresh deals amid strong spot demand. On the Multi Commodity Exchange, the price of the contract for delivery in October rose by Rs 149, or 0.2 per cent, to Rs 74,444 per 10 gram.
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