Gold Prices At Record High: Due to the sharp rise in the price of gold in the international market, gold has reached a new historical level in the domestic market. In the bullion market of Delhi NCR, gold has managed to touch the level of Rs 65,000 per 10 grams for the first time with a rise of Rs 800. Whereas in its first trading session, gold had closed at the level of Rs 64,200 per 10 grams.
Gold at record high of Rs 65000
Senior Commodity Analyst at HDFC Securities, Saumil Gandhi, said that the price of 24 carat gold in Delhi’s bullion market has reached Rs 65,000 per 10 grams and there has been an increase of Rs 800 in comparison to the previous session. The shine of silver has also increased and silver has risen by Rs 900 to reach Rs 74,900 per kg, which was Rs 74,000 per kg in the last session.
Prices increased due to cut in interest rates
In the international market, gold is trading at $2,110 per ounce in the Comex commodity market, which is one percent more than the previous trading session. In fact, it is being speculated that the Central Bank of America may cut interest rates in the coming days. Earlier, there were indications of a cut in the month of March itself, but now due to speculations of a cut in interest rates by the US Federal Reserve in the month of June, gold prices are seeing a rise. In the last three trading sessions, gold prices in MCX have increased by more than Rs 2,400. On the Multi Commodity Exchange, gold closed at Rs 64,791 with a rise of 0.51 percent or Rs 329.
Effect visible in domestic market
A sharp increase in gold prices has been seen in the last few days. In the month of February, gold was trading on an average around Rs 62,000. But in the first week of March, the prices of gold have suddenly increased in the international market, the effect of which is being seen in the domestic market as well.
Read this also
Banks will make the KYC process more strict, customers with more than one account will have multilevel verification!
Get more latest business news updates