Gold Rate Today: Gold becomes expensive, prices increased for the second consecutive day, check today’s fresh
Gold price today: Gold became expensive once again on Wednesday due to tremendous purchases amidst new concerns about American tariffs. In the bullion market of Delhi, the price of gold with 99.9 percent purity rose by Rs 500 to Rs 99,170 per 10 grams today. Let us tell you that today the price of gold has been recorded for the second consecutive day. Earlier, on Tuesday, the price of gold rose by Rs 1200 to Rs 98,670 per 10 grams. Apart from this, gold with 99.5 percent purity also increased by Rs 450 to Rs 98,600 per 10 grams. On Tuesday, it closed at Rs 98,150 per 10 grams. However, there was no change in the price of silver today and it remained stable at Rs 1,04,800 per kg.
Central banks of China and Türkiye made tremendous gold purchases
The Nuwama Professional Clients Group’s FX and Jens Head, Abhilash Koera said, “Gold started rapidly in the July-September quarter. Recently, there has been a decrease in geopolitical risk after the Iran-Israel ceasefire with a decline from the high level of June. Central banks bought more than 50 tonnes of gold in June, headed by China and Turkey, while especially in Europe, amidst trade tension, gold ETFs saw a renewed investment in Gold ETF.
Why the sudden rise in gold prices rose
Soumil Gandhi, senior analyst of HDFC Securities, said, “The demand for safe investment amid concerns about the widespread taxes of US President Donald Trump and the fiscal implications of the expenditure deduction bill has led to a boom in gold.” Gold in the global markets rose to a mild gold to $ 3,342.44 per fosure. Kayanat Chanwala, AVP of commodity research in Kotak Securities, said, “Gold remains stable around $ 3,350 levels amidst the new trade tension, as President Trump has said that he is not considering extending the July 9 time limit for counter -duty rates on business partners and will not delay it.”
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