Gold Price in Delhi: The effect of the prices of precious metals reaching a record high in the global markets was also clearly visible in the bullion market of the national capital on Monday, where the price of gold rose by Rs 1,685 to an all-time high of Rs 1,38,200 per 10 grams, while the price of silver also jumped by Rs 10,400 to an all-time high of Rs 2,14,500 per kg (including all taxes). Were closed.
Gold reached record level
According to All India Bullion Association, this rise in gold and silver is not only due to domestic demand but due to strong trend in international markets. Saumil Gandhi, senior commodity analyst at HDFC Securities, said that gold and silver are continuously touching new highs, which shows the continued strength in the bullion market.
In the international market too, the spot price of gold rose by $ 80.85 or 1.86 percent to a record high of $ 4,420.35 an ounce, while silver rose by $ 2.31 or 3.44 percent to trade at a high of $ 69.45 an ounce.
Why did demand increase?
Experts say that cut in interest rates in America, increasing fiscal concerns, uncertainty about the American economy and global geopolitical tensions have turned investors towards safe investment options, due to which the demand for gold and silver has increased rapidly.
According to Satish Dondapati, Fund Manager, Kotak Mutual Fund, the record rise in silver is not only an indication of investment demand but also of strong demand coming from solar, electronics and other industrial sectors, due to which investors’ interest may remain in the coming times despite fluctuations in precious metals. It is noteworthy that this year a tremendous rise is being seen in the prices of gold and silver.
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