Traders are now waiting for US major economic data.
Gold set a new record just a day before Holi. In the national capital, the price of gold rose by Rs 600 to Rs 89,450 per 10 grams on Thursday at an all -time high. On Wednesday, gold with 99.9 percent purity closed at Rs 88,850 per 10 grams. According to PTI news, gold with 99.5 percent purity rose by Rs 600 to Rs 89,050 per 10 grams to its all -time high level. On February 20, yellow metal of 99.9 and 99.5 percent purity rose by Rs 50 to Rs 89,450 and Rs 89,050 per 10 grams.
Silver also climbed ₹ 1000
Silver prices also rose by Rs 1,000 per kg on Thursday and reached the high of five months to Rs 1,01,200 per kg. The white metal closed at Rs 1,00,200 per kg in the last market.
Professions in futures market
Gold contracts for April delivery in futures trading on Multi Commodity Exchange i.e. MCX rose by Rs 210 or 0.24 percent in the evening session and reached a record high of Rs 86,896 per 10 grams. On the global front, the spot gold rose 11. 67 $ 67 or 0.40 percent to 2,946. Reached $ 44 an ounce.
Expert opinion
Regarding gold, Senior Analyst (Commodities) of HDFC Securities, Soumil Gandhi said prices in the domestic market reached a new record level, while the international market reached a record height due to the demand for safe investment in the international market and less than expected American consumer inflation data. This year is expected to further relax the monetary policy by the Federal Reserve. Gandhi said that traders are now waiting for US major economic data including weekly unemployment claims and PPI/Core PPI (productive price index) for more signals about overall inflation.
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