Gold and silver became expensive today, Gold’s price again reached close to 1 lakh, check the latest rate
India-Pakistan The demand for gold has increased due to the possibility of war. Its effect appeared on the price of gold and silver today. In the bullion market of the national capital, the price of gold rose by Rs 480 to Rs 99,730 per 10 grams on Friday. The All India Bullion Association has given this information. In the last trading session, the price of 99.9 percent purity gold closed at Rs 99,250 per 10 grams. On Friday, gold with 99.5 percent purity increased by Rs 480 to Rs 99,280 per 10 grams. In the last session, it closed at Rs 98,800 per 10 grams.
Silver also became expensive
The price of silver also increased by Rs 200 to Rs 98,400 per kg. Silver closed at Rs 98,200 per kg in the last market session. Gold spot in international markets increased by $ 22.37 to $ 3,328.09 an ounce. Silver spot in foreign markets rose 0.23 percent to $ 32.54 an ounce.
Gold prices are possible
Chintan Mehta, Chief Executive Officer of Abanse Financial Services, said that gold prices remain stable due to low pressure on the market due to reduced fee tension. Mehta said, however, the growing tension between India and Pakistan, the Russia-Ukraine war and the complete control over Gaza remain in the geopolitical risk backgrounds arising out of the Israeli plans and the inherent support for gold may remain intact. He said that these developments can continue to increase the demand for gold as a defense against uncertainty.
Futures market also boom
Gold rose by Rs 220 to Rs 96,388 per 10 grams on Friday in futures trading from fresh deals of bookies amidst strong spot demand. In June, the price of gold supplied in the Multi Commodity Exchange (MCX) rose by Rs 220, or 0.23 per cent, to 96,388 per 10 grams. It traded for 14,385 lots.
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