Silver is just 3 steps away from touching the level of Rs 1 lakh. For the first time its price crossed Rs 97 thousand.The price of silver reached Rs 97,100 per kg.
New Delhi. There is a continuous jump in the prices of gold and silver. On Wednesday also, there was a sharp jump in the prices of both the precious metals. Silver is just 3 steps away from touching the level of 1 lakh. Silver also saw a jump of more than 1 thousand rupees today and for the first time its price crossed 97 thousand. There has been a big jump in the price of gold in Delhi bullion market today.
In line with the strong trend in global markets, the price of silver reached an all-time high of Rs 97,100 per kg in the bullion market of the national capital on Wednesday. At the same time, gold also rose by Rs 250. According to HDFC Securities, silver remained strong for the third consecutive day. Its price jumped by Rs 1,150 to Rs 97,100 per kg. On Tuesday, silver closed at Rs 95,950 per kg.
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Futures prices also rose
Silver reached an all-time high of Rs 96,493 per kg in futures trading on the Multi Commodity Exchange (MCX) on Wednesday. Meanwhile, gold strengthened by Rs 250 to Rs 73,200 per 10 grams in the capital. In the last trading session, it closed at Rs 72,950 per 10 grams.
Global market also boomed
HDFC Securities Senior Analyst (Commodities) Saumil Gandhi said, ‘The price of spot gold (24 carat) in Delhi markets is trading at Rs 73,200 per 10 grams, which is Rs 250 more than the previous closing price (Rs 72,950 per 10 grams).’ Apart from this, spot gold was trading at $ 2,352 per ounce in the international market Comex (commodity market), which is six dollars more than the previous closing price.
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Where is silver in the global market
Global market silver is also trading at $ 32.05 per ounce. In the last session, it closed at $ 31.50 per ounce. So far this year, spot silver prices have risen by 35 percent, reaching a 12-year high. The most traded silver July contract on MCX rose by Rs 52 to Rs 95,500 per kg. However, the gold contract for June delivery was trading at Rs 72,049 per 10 grams, down by Rs 131 or 0.18 percent.
how far will the price go
Brokerage firm Motilal Oswal says that the price of gold will continue to rise. It is estimated that by December it will touch the figure of 81 thousand rupees per 10 grams. Therefore, if someone invests in gold now, he will earn a profit of 8,000 rupees per 10 grams within 7 months. The firm has also predicted a fall in gold, which can go up to the level of 69 thousand.
Tags: Business news, gold price, Gold Price Today, Silver Price Today
FIRST PUBLISHED : May 29, 2024, 19:49 IST