A woman wearing a gold jewelery in her hands. (File photo)
The price of gold was seen on Friday. The price of 24 carat gold in the national capital has been ₹ 6,250 per 10 grams in a day today. On Wednesday, a yellow metal of 99.9 percent purity was closed at Rs 90,200 per 10 grams. After a sharp fall of four days, gold with 99.5 percent purity rose by Rs 6,250 to an all -time high of Rs 96,000 per 10 grams, while the previous closed price was Rs 89,750 per 10 grams. According to PTI news, the price of silver also gained ₹ 2300 per kg.
The price of silver in Delhi reached Rs 2,300 per kg on Friday to Rs 95,500 per kg. This also saw the effect of global trend on this. On Wednesday, the price of silver closed at Rs 93,200 per kg on Wednesday. Actually, on Thursday, there was a holiday in the market due to Mahavir Jayanti.
Strong safe-investment demand price on seventh sky
According to the news, experts say that gold in the global market touched the highest level in the global market due to strong safe-conscience demand amid growing American-China trade tension, which led to the rise in domestic prices. Investment banking company UBS says that the ongoing concerns in the financial markets, such as trade and economic uncertainty, fears of inflation, the risk of recession and geopolitical stress will continue to increase the attraction of gold.
What do experts say
Jatin Trivedi, VP of Commodity of LKP Securities and Currency, said that gold carried forward its record-setting rally. AVP of Kotak Securities- Commodity Research, Kayanat Chanwala said that Comex Gold prices reached a record high as the demand for safe investment increased amidst increasing US-China trade tension. Prices in the global market had earlier crossed US $ 3,200 an ounce on 2 April, but later declined due to profit booking.
Gold bounced from America-China clash
On Thursday, the Trump administration announced a tariff to 145 percent on Chinese goods, after which China also retaliated and announced a tariff of up to 125 percent. Chanwala said that deep retaliation and increasing concerns of global economic recession weakened the US dollar below 100 points, leading to strong support to bullion prices.
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