gold prices rose for the third consecutive day due to buying in the local market and on Friday, the price of gold in the bullion market of the national capital jumped by Rs 700 to reach a record high of Rs 82,000 per 10 grams. The All india Sarafa Association gave this information. On Thursday, the price of gold closed at Rs 81,300 per 10 grams.
gold price reached Rs 81,600 per 10 grams
The price of 99.5 percent purity gold increased by Rs 700 to Rs 81,600 per 10 grams. In the previous trading session, it closed at Rs 80,900 per 10 grams. However, on Friday, the price of silver fell by Rs 500 to Rs 93,500 per kg, which closed at Rs 94,000 per kg in the previous trading session.
On october 31, gold reached an all-time high
On october 31 last year, gold of 99.9 percent purity and 99.5 percent purity reached a record level of Rs 82,400 and Rs 82,000 per 10 grams respectively in the local markets.
Why is gold seeing a strong rise?
Traders said that despite the weak trend in the international markets, the precious metal rose in the domestic market, mainly due to the high demand from jewelers.
gold and silver prices in the international market
Globally, Comex gold futures fell by $ 21.10 per ounce to $ 2,729.80 per ounce. Apart from this, Comex silver futures fell by 1.47 percent to $ 31.26 per ounce in the Asian market.
What do commodity experts say
Kayanat Chainwala, Assistant Vice President (Commodity Research) at Kotak Securities, said that gold has come down slightly below $2750 per ounce before the US household and industrial production data comes out.
gold and silver expected to rise further
gold and silver prices are expected to rise in view of the global conditions and the dollar movement is also considered important behind this. Global geo-political conditions are currently showing a trend of increase in the prices of gold and silver.
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