‘Noise’ created in bullion market, gold and silver reached record level, know what is the new sentiment
Silver prices reached the top level of Rs 1,04,100 per kg on Thursday in the national capital. The All India Bullion Association said that silver rose by Rs 2,000 to Rs 1,04,100 per kg (including all taxes) in the local markets, continuing the lead in the fourth consecutive session. Earlier on March 19, silver touched its previous all -time high level of Rs 1,03,500 per kg.
How much gold price today
According to PTI news, gold prices also rose by Rs 430. Gold with 99.9 percent purity increased by Rs 430 to Rs 99,690 per 10 grams (including all taxes). Precious metal of 99.5 percent purity rose by Rs 400 to Rs 99,100 per 10 grams (including all taxes) on Thursday. Gold futures increased to Rs 99,214 per 10 grams for August contract on multi -commodity exchange. Globally, gold went above $ 3,395 an ounce, while MCX gold was trading above Rs 98,450.
What did the expert say
Senior analyst of commodities of HDFC Securities, Saumil Gandhi said that silver price in the domestic market reached the new all -time high level. This boom has the support of strong basic things, high industrial demand, inflation hedging and tight global supply. The most trading silver futures contract on the Multi Commodity Exchange rose by Rs 3,833 or 3.78 percent in July and reached an all -time high of Rs 1,05,213 per kg. Silver spot in foreign markets rose nearly 4 percent to $ 35.80 an ounce.
Focus on American non-agricultural payroll report
Gandhi said that the spot silver has crossed the previous level of $ 35 an ounce and is trading above the level that has reached a 12 -year highest level. According to Chintan Mehta, Chief Executive Officer of Abans Financial Services, investors are focusing on Friday’s American non-agricultural payroll report for further signals about the monetary policy direction of the Federal Reserve. Mehta said that in addition, any new geopolitical developments can add another layer of uncertainty, which will once again lead investors to a safe house of gold.
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