Over the past two days, gold prices have once again gained momentum. Gold prices are rising from the American market to the Indian markets. On the Multi Commodity Exchange, an increase of over Rs 1,500 was seen in gold prices till 10 am on Monday and Tuesday. While the price of silver has once again exceeded Rs 91,000 per kg. On the other hand, a rise in the price of gold is also observed in the Comex market in New York. Once again the price of gold on Comex exceeded $2,600 per ounce.
According to experts, the demand for gold locally in the country has increased significantly. The main reason for this is considered to be the wedding season. Furthermore, due to the pressure of the dollar index in the international market, there is an increase in the price of gold. The effect of this is also being seen in local markets in India. According to experts, the demand for the dollar index and gold may rise and fall in the coming days. Therefore, fluctuations in the price of gold can be observed. Let us also tell you what has been the price of gold from Delhi to New York.
Gold price rise
Gold prices rise for the second consecutive day on the Multi Commodity Exchange. Adding up Monday and Tuesday’s rise so far, gold has become more expensive by Rs 1,500 so far. If we look at the data, gold prices are trading at Rs 75,374 with an increase of Rs 327 at 10:15 am. While in this 75-minute trading session, gold also hit the day’s high of Rs 75,450. By the way, today at 9 am, gold opened with Rs 75,200. After the market closed a day ago, the price of gold stood at Rs 75,047 per ten grams. On the last trading day of last week, the price of gold was Rs 73,946. In which so far an increase of up to Rs 1,504 has been seen.
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Silver crosses 91 thousand rupees
On the other hand, the price of silver crossed Rs 91,000 on the Multi Commodity Exchange. What is special is that the price of silver has seen an increase of more than Rs 2,600. On Tuesday, an increase of Rs 473 in the price of silver was observed on Multi Commodity Exchange at 10.20 am and the price was at Rs 90,986. While during the trading session, the price of silver touched the day’s high of Rs 91,100. However, it opened in the morning with Rs 90,748. While when the markets closed on Monday, the price was Rs 90,513. On the last trading day of last week, the price of gold was Rs 88,421. In which so far an increase of Rs 2,679 per kg has been seen.
Gold and silver also shone in foreign markets
On the other hand, an increase in gold and silver prices was also observed in external markets. According to the data, in the Comex market, the gold future is trading at $2,627.30 per ounce with an increase of $12 per ounce. At the same time, the spot gold price is trading at $2,623.32 per unit with an increase of $11.49 per unit. On the Comex market, silver futures rose 0.66 percent to $31.43 per unit. At the same time, the spot silver price is expected to rise 0.58 percent to $31.35 an ounce.
Effect of the fall of the dollar index
The main reason for the fall in the price of gold in the international market is the fall in the dollar index. Currently the dollar index is trading lower at the level of 106.23. While during the session the index also reached the level of 106.12. On the other hand, the demand for gold is being seen locally. The main reason is the wedding season. Locally, gold prices have fallen well below the record level, making investors once again enthusiastic about gold. If experts are to be believed, fluctuations in the price of gold are possible in the coming days.
