Just 10 grams of gold crossed 91 thousand!
Amid strong trend in foreign markets, the price of gold in the national capital on thursday increased by Rs 365 to Rs 91,050 per 10 grams. The price of 99.9 percent pure gold closed at Rs 90,685 per 10 grams on Wednesday. Pure gold up to 99.5 percent increased by Rs 365 to Rs 90,600 per 10 grams, while its price was Rs 90,235 per 10 grams a day earlier. This is the reason why the price of gold is increasing.
Saumil Gandhi, Senior Analyst, Commodities at hdfc Securities, said, "Gold prices rose due to increased risk perception among investors after US President donald trump announced new auto tariffs on Wednesday." Similarly, the price of silver has also increased by Rs 200 to Rs 1,01,700 per kg. On Wednesday, it closed at Rs 1,01,500 per kg.
Meanwhile, the futures price of gold for april delivery on the Multi Commodity Exchange (MCX) has increased by Rs 828 or 0.94 percent to reach a record high of Rs 88,466 per 10 grams. Earlier on march 20, gold prices had increased to an all-time high of Rs 89,796 per 10 grams. In the international market, spot gold rose by $34.77 or 1.15 percent to reach a record high of $3,054.05 an ounce.
Investment in gold is increasing
Research analyst Jatin Trivedi, vice president of LKP Securities, said, "Gold prices rose to close to $3,050 an ounce amid fears of a fall in US GDP growth and the imposition of reciprocal tariffs by the US on april 2. Apart from this, Trump's threat to the european union to support canada has also affected the market. This has further increased the demand for safe investment.''
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