Gold: Gold-silver prices break all records, will yellow metal be out of the purchase of common man
Gold prices do not break up. Will gold be out of the purchase of the common man in the coming days. The price of gold in the national capital rose by Rs 1,000 to a new record level of Rs 1,05,670 per 10 grams on Monday. Gold prices rose due to the expectation of interest rate cut by the US Federal Reserve this month and strong demand in foreign markets. This is the sixth consecutive trading session when gold increased. With this, the price of silver also rose by Rs 1,000 to a new peak of Rs 1,26,000 per kg (including all taxes).
According to the All India Bullion Association, gold with 99.9 percent purity rose Rs 1,000 to a record high level of Rs 1,04,670 per 10 grams on Saturday. In the local market, gold with 99.5 percent purity rose by Rs 800 to Rs 1,04,800 per 10 grams (including all taxes) to an all -time high level on Monday. It closed at Rs 1,04,000 per 10 grams in the last market session.
What do experts say
Experts believe that in the year 2025, more brightness than gold can be seen in silver. Actually, silver supply is quite tight. At the same time, demand for its industrial and jewelery is continuously increasing. Due to this, experts are quite bulls on silver.
Traders said that the precious metal accelerated due to increasing trends towards secure investment options of investors amid growing concerns over the freedom of American Federal Reserve and increasing uncertainty over fees policies. In addition, the price of silver rose by Rs 1,000 to a new peak of Rs 1,26,000 per kg (including all taxes). On Saturday, silver jumped at Rs 6,000 to reach a record level of Rs 1,25,000 per kg.
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Trivesh D, Chief Operating Officer of Brokerage firm Tradjini, said Trivesh D, “Silver reached a record high in domestic markets. The main reason for this was the industrial demand for clean energy and electronics, as well as betting rapidly increased prices. ”
He said that the recent announcement of the US Geological Survey declared silver as an important mineral has also created a new pace. Trivesh D said that the falling price of the rupee and rising geopolitical stress at the international level has made gold more attractive as a safe investment option. Gold on MCX crossed Rs 1.05 lakh per 10 grams and silver reached Rs 1.25 lakh per kg, causing Indian buyers to see the highest prices in the last 10 years.
In addition, silver futures for December contract on Multi Commodity Exchange (MCX) on Monday rose by Rs 3,117 or 2.5 per cent to Rs 1,24,990 per kg. Gold futures reached a high level of $ 3,556.87 an ounce for a December contract on comex in international markets. Gold spot in New York rose by $ 22.51 or 0.65 percent to $ 3,470.51 an ounce.
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Kayanat Chanwala, AVP of Commodity Research of Kotak Securities, said that gold continued to rise due to rising expectations of interest rate cuts, increasing uncertainty for President Donald Trump’s proposed fee and increasing deadlock between Trump administration and Federal Reserve. Input agencies edited by: Sudhir Sharma
