Gold Price: Silver at new height due to increasing Israel-Iran tension, gold also gained Rs 540
Investors have increased inclinations with safe investment assets, amidst the continuation of the Israeli-Iran struggle on the sixth day. Due to this, the price of silver in the bullion market of the national capital rose by Rs 1,000 to a record level of Rs 1,08,200 per kg, while gold increased by Rs 540 to above Rs 1 lakh per 10 grams. The All India Bullion Association has given this information.
According to the bullion association, silver closed at Rs 1,07,200 per kg in the last trading session on Tuesday. On Friday, silver touched its previous all -time high level of Rs 1,08,100 per kg.
The vice -president (commodity) of Mehta Equality, Rahul Kalnist said that silver prices continued to rise and for the first time since February 2012 it crossed the level of $ 37 an ounce in the international market. Weakness in rupee is supporting bullion prices in domestic markets.
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According to the bullion association, gold with 99.9 percent purity increased by Rs 540 to Rs 1,00,710 per 10 grams (including all taxes) on Wednesday. Globally, the spot gold fell 0.23 percent to $ 3,380.97 an ounce. According to Kotak Securities, gold prices remain below $ 3,400 an ounce due to strengthening of the dollar due to the focus of traders on increasing stress in West Asia.
The brokerage firm said that discussions of US President Donald Trump’s call to Iran’s untouchable surrender and possible attacks against Iranian leader Ayatollah Ali Khamenei have increased the possibility of America’s direct participation in the struggle, “the demand for assets of safe investment between investors has increased.
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Silver spotted in international markets rose 0.15 percent to $ 37.18 an ounce. Manish Sharma, AVP (commodity and currency) of Anand Rathi Share and Stock Brokers, said, “Market participants are taking a vigilance in the near future, as they are waiting for more signs from the meeting of the US FOMC (Federal Open Market Committee) to be held tonight. Language edited by: Sudhir Sharma
