The price of gold and silver showed vigor on Friday. The price of gold in the national capital increased by Rs 1,080 to Rs 96,800 per 10 grams. On Thursday, gold with 99.9 percent purity fell by Rs 2,830 to Rs 95,720 per 10 grams. Gold with 99.5 percent purity increased by Rs 180 to Rs 96,350 per 10 grams. In the last market session, it was reduced by Rs 1,930 to Rs 96,170 per 10 grams.
Silver prices also increased strongly
The price of silver on Friday also increased by Rs 1,600 to Rs 97,100 per kg. Silver fell by Rs 2,500 to Rs 95,500 per kg in the last closed price. The local markets remained closed in the morning session on the occasion of ‘International Labor Day’ on Thursday. Later, in the evening session it was again opened for trading.
Why prices rise
According to the All India Bullion Association, on Friday, the traders said that gold rose due to the latest demand of local jewelery vendors and the strong trend in international markets. Gold in global markets rose $ 23.10 or 0.71 percent to $ 3,262.30 an ounce. Jatin Trivedi, vice -president of the Commodity of LKP Securities and the currency, said that the perception of the US -led trade deals was stable in the price due to constant ambiguity about the US -led trade deals.
Hope of good gold performance in 2025
Brokerage firm Kotak Securities stated that gold rose due to weak dollars, but the benefits were limited by US President Donald Trump to indicate potential deals with major Asian economies including India and a partial return in auto tariffs by China. Manoj Kumar Arora, Managing Director of Alamandz Global, said that despite giving 30 percent returns from last year, a good gold is expected to perform in 2025.
On April 22, gold prices in domestic markets touched the highest level of Rs 1 lakh per 10 grams. Historically, gold has given CAGR returns from 2001 to 15 percent. Since 1995, gold returns have performed more than 2 percent to 4 percent better inflation.
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