Gold is going out of the reach of the common man!
Amid US President Donald Trump's tariff policy and fears of a possible global trade war, gold prices reached an all-time high on thursday, february 20. Demand for gold is increasing among investors looking for safe investment and spot gold rose 0.5 percent to $ 2,945.83 an ounce. At the beginning of today's session, it reached a record level of $ 2,947.11 an ounce. So far this year, gold prices have increased by up to 12 percent and its record is being broken every other day. On thursday, US gold futures also rose 0.9 percent to $ 2,963.80 an ounce.
Gold prices reached this much
According to the All india Sarafa Sangh, the price of gold in the national capital on thursday rose by Rs 50 to reach the level of Rs 89,450 per 10 grams. On wednesday, the trading of 99.9 percent pure gold closed at Rs 89,400 per 10 grams. While the price of 99.5 percent pure gold made a new record of Rs 89,050 per 10 grams with a jump of Rs 50.
Experts say that Trump's statement on wednesday that he will impose tariffs on wood, vehicles, semiconductors and pharmaceuticals next month or before has further increased the fear among investors. gold for april delivery in Comex gold Futures has increased by $ 36.81 or 1.25 percent to a new level of $ 2,972.91 per ounce.
Silver prices are also rising
Silver prices have also increased by Rs 700 from Wednesday's closing price of Rs 99,600 per kg to Rs 1,00,300 per kg today. Meanwhile, the price of gold to be delivered in april on MCX rose by Rs 500 to Rs 86,410 per 10 grams. At the same time, the futures price of silver to be delivered in march on the Multi Commodity Exchange rose by Rs 1,224 or 1.27 percent to Rs 97,630 per kg. In the Asian market, Comex silver futures rose by 2.08 percent to $ 33.73 an ounce.
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