Gold and Silver Price: The fresh buying by jewelery vendors amidst strong trend abroad increased the price of gold in the bullion market of the national capital on Friday to Rs 1,080 to Rs 96,800 per 10 grams. On Thursday, the price of gold with 99.9 percent purity fell by Rs 2,830 to Rs 95,720 per 10 grams. Apart from this, the price of silver also increased by Rs 1,600 to Rs 97,100 per kg. In the previous closed price, the price of silver declined by Rs 2,500 to Rs 95,500 per kg.
The All India Bullion Association gave this information. On Thursday, the price of 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 trading session, it was reduced by Rs 1,930 to Rs 96,170 per 10 grams.
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Traders said that gold rose due to the latest demand of local jewelery vendors and strong trend in international markets. Apart from this, the price of silver on Friday also increased by Rs 1,600 to Rs 97,100 per kg. In the previous closed price, the price of silver declined by Rs 2,500 to Rs 95,500 per kg.
Local markets were closed on Thursday on the occasion of ‘International Labor Day’. Later, the market was opened for trading in the evening session. Gold in global markets increased by $ 23.10 or 0.71 percent to $ 3,262.30 an ounce. Jatin Trivedi, vice president of LKP Securities (Research Analyst Competition and Currency) said, the perception of the US continued to stabilize the assault on the trade agreement with the US accelerated the prices of gold.
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Trivedi said that the lack of clarity on the ongoing talks over trade agreements in the US and the changing trend have inspired the market participants to eliminate the situation of lack of deals in gold, which has led to a new boom. He said that as a result, interest in safe investment is gradually returning.
Brokerage company Kotak Securities stated that gold rose due to weak dollars, but US President Donald Trump was limited to considering a fresh trade negotiations after China’s renewed trade negotiations after indicating possible agreements with major Asian economies including India and partial withdrawal in vehicle charges.
On Friday, the spot silver rose 0.23 percent to $ 32.49 an ounce. According to commodity analysts, market participants are awaiting job data in the industry in the US to be released on Friday. Manoj Kumar Arora, managing director of Alamondz Global, said that despite giving 30 percent returns from last year, a good gold is expected to perform in 2025.
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On April 22, the price of gold in domestic markets reached the highest level of one lakh rupees per 10 grams. Arora said about the market approach to gold, gold prices are likely to be high with global stress, fee threats, continuous purchase of central banks due to inflation concerns in the US. (Language)
Edited by: Chetan Gour
