The dollar imports became expensive due to the weak rupee.
Gold is constantly making new records of getting expensive. On Thursday, the price of gold rose by Rs 270 to a new all -time high level of Rs 86,070 per 10 grams in the national capital. Gold with 99.5 percent purity rose by Rs 270 to a new level of Rs 85,670 per 10 grams. According to PTI news, gold with 99.5 percent purity rose by Rs 270 to a new level of Rs 85,670 per 10 grams. On Tuesday, this metal was closed at Rs 85,400 per 10 grams. Bullion markets were closed on Wednesday due to Delhi assembly elections.
Their role was also behind the rise in price
According to the news, traders said that continuous purchases of local jewelery vendors, weak rupees and loss in the stock market helped yellow metal. This year, gold has rose by Rs 6,680 per 10 grams, due to safe investment demand and strong global trends. Today, the rupee reached the lowest level against the US dollar today and the stock market closed down. Silver prices in Delhi remained stable at Rs 96,500 per kg on 6 February.
Gold in futures market
The price of gold declined in futures trading. The April month contract on MCX fell by Rs 41 to Rs 84,526 per 10 grams, below Wednesday’s record level. Jatin Trivedi, Vice President of Commodity and Currency in LKP Securities, said the focus of market participants focused on the upcoming RBI monetary policy and American non-agricultural payroll and unemployment data released on Friday. Trivedi said that the rupee move and comex gold trends would play an important role in determining the next price action for gold.
Silver in futures market
Silver futures fell by Rs 934 or 097 percent to Rs 95,031 per kg for March delivery on multi -commodity exchange (MCX). In the global markets, Comex Gold futures for April delivery fell by $ 12 an ounce or 0 41 percent to $ 2,881 an ounce. On Wednesday, Comex futures reached another high level of $ 2,906 an ounce.
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