The price of gold is on the rise all over the world. The price of gold is touching new heights every day. In the bullion market of the national capital on Thursday, the price of gold rose by Rs 850 to reach a new record level of Rs 70,050 per 10 grams. HDFC Securities gave this information. This is the second consecutive session when gold has touched a record high. In the last trading session, gold had closed at Rs 69,200 per 10 grams. According to Bhasha news, the price of silver also increased by Rs 1,000 and closed at Rs 81,700 per kg. In the previous trading session, it had closed at Rs 80,700 per kg.
spot gold in comex
HDFC Securities Research Analyst Saumil Gandhi said that taking cues from the strong trend in foreign markets, the spot gold price (24 carat) in Delhi markets was trading at Rs 70,050 per 10 grams, which was Rs 850 from the previous closing price. There is an edge. In the foreign market, Comex, spot gold was trading at $ 2,297 an ounce, which is $ 22 more than the previous closing price. Gold hit another record after Federal Reserve chief Jerome Powell confirmed that an interest rate cut would be appropriate at some point this year. Gandhi said traders focus on the timing of the rate cut rather than the timing of the first rate cut.
Silver also at $ 27.05 per ounce
Navneet Damani, senior vice president, commodity research, Motilal Oswal Financial Services, said silver was also trading with gains at $ 27.05 an ounce. In the last session it had closed at $ 26.25 an ounce. He said gold is hovering near its all-time high due to weakness in the dollar amid uncertainty over US interest rate cuts, while increased demand for safe-haven options has also helped prices.
On the domestic front, silver prices are also at an all-time high amid a huge rally in industrial metals. Key US economic data, including weekly unemployment claims, to be released on Thursday will provide more insight on the US Federal Reserve’s monetary policy outlook, according to Praveen Singh, assistant vice president of fundamental currencies and commodities at Sharekhan by BNP Paribas.
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