Gold Price Today: The price of gold has once again started coming close to Rs 80,000. After becoming cheaper by Rs 3,600 in the last 10 days, the price of gold had come down to Rs 76,000. But now it has started gaining momentum again. In the national capital Delhi on Thursday, gold prices increased by ₹ 1,400 to ₹ 79,300 per 10 grams. According to the All India Bullion Association, the price of gold of 99.9 percent purity closed at ₹ 77,900 per 10 grams on Wednesday.
price of silver
Silver remained stable at ₹93,000 per kg on Thursday. In the global market, gold futures prices on Comex rose by $19.80 per ounce (0.74%) to reach $2,695.40 per ounce. At the same time, the price of silver increased by 0.29% to $31.53 per ounce.
mcx market
On the Multi Commodity Exchange (MCX), gold contracts for December delivery were trading ₹568 (0.75%) higher at ₹76,602 per 10 gram. Silver contracts for December delivery were trading higher by ₹318 (0.35%) at ₹90,407 per kg.
Reason for increase in gold and silver prices
Jatin Trivedi, Vice President and Research Analyst, LKP Securities, said that increased concern about the nuclear threat in the Russia-Ukraine war boosted the demand for safe investment in gold. Gold prices will remain volatile as the current geopolitical situation is attracting investors towards safer options.
Impact of Russia-Ukraine war
HDFC Securities Senior Analyst Saumil Gandhi said that the demand for gold has increased due to increasing tension between Russia and Ukraine. The news of long-range missile attack by Russia in Ukraine and the use of Russian intercontinental ballistic missile has shaken the market. According to Praveen Singh, Associate Vice President of Sharekhan by BNP Paribas, the market is now waiting for America’s economic data.
price of gold and silver
