Gold Record High: Gold price rose, rose by Rs 1650 to close to 1 lakh, now how many prices have been done?
Digital Gold
Gold prices rose by Rs 1,650 on Monday in the national capital due to the increase in demand due to weak dollar and uncertainties over the US-China trade war, causing its price to reach a psychological level of Rs 1 lakh per 10 grams. Soon the gold is going to reach beyond 1 lakh and almost this idea is going to prove to be correct. Seeing its price 99,800 on Monday, it is now being said that the day is not far when it will not be impossible to buy the gold of the general public.
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According to the All India Bullion Association, the price of gold with 99.9 percent purity reached Rs 99,800 per 10 grams on Monday. On Friday, its price was reduced by Rs 20 to Rs 98,150 per 10 grams.
In the local market, the price of gold of 99.5 percent purity rose Rs 1,600 to a new peak of Rs 99,300 per 10 grams. In the last trading session, it closed at Rs 97,700 per 10 grams in the last trading session.
The price of gold has increased by Rs 20,850 or 26.41 percent per 10 grams since 31 December last year. Silver prices also rose by Rs 500 to Rs 98,500 per kg. Silver was closed flat at Rs 98,000 per kg in the last session.
Kotak Mahindra AMC Fund Manager Satish Dondapati said that this year, business tension, expected to cut interest rates, geopolitical uncertainties and weak dollars have seen notable fluctuations in gold and silver prices due to weak dollars. So far, gold has increased by more than 25 percent, including an increase of six percent since the announcement of fee by the US administration on April 2.
The June delivery gold futures in the multi -commodity exchange rose by Rs 1,621, or 1.7 percent to Rs 96,875 per 10 grams. Gold in international markets reached a new peak of $ 3,397.18 an ounce. Later, its profit decreased slightly and traded at $ 3,393.49 an ounce. Globally, the gold futures prices rose by $ 80 an ounce or 2.4 percent for the first time crossing a psychological level of $ 3,400.
Pranav Mer, Vice President of JM Financial Services and EBG Vice President of Mudra Research, said that gold prices continued to rise positively and it reached above $ 3,400 an ounce. Gold is getting support from trade fee uncertainty, US dollar weakness and increase in bond returns. Silver spotted in the Asian trading hours increased by about one percent to $ 32.85 an ounce. Input language edited by: Sudhir Sharma
