Silver prices reached a new peak of Rs 1,15,000 per kg in the bullion market of the national capital on Monday, with a strong boom of Rs 5,000 to Rs 1,15,000 per kg in the bullion market of the national capital, after the dollar weakness on US fee threats. The All India Bullion Association gave this information. On Saturday, silver rose by Rs 4,500 to an all -time high of Rs 1,10,000 per kg (including all taxes).
According to the Union, gold with 99.9 percent and 99.5 percent purity rose by Rs 200-200 to Rs 99,570 and Rs 99,000 per 10 grams (including all taxes) respectively.
“Silver prices have risen to a new record level in the domestic market,” said Soumil Gandhi, Senior Analyst (Commoner), HDFC Securities. At the same time, silver is at the highest level of about 14 years in the international market. This fast is due to a change in investors’ interest in gold options. In addition, silver futures rose by Rs 2,135 or 1.88 per cent to a record of Rs 1,15,136 per kg in the commodity exchange.
Meanwhile, in the Multi Commodity Exchange (MCX), the most trading gold contract with August delivery increased by Rs 518 or 0.53 percent to Rs 98,336 per 10 grams.
Jatin Trivedi, vice -president of LKP Securities, Jatin Trivedi said, “There was a positive attitude in gold prices due to the increase in stress due to global fee. Gold has become a preferred safe investment destination due to the US imposing additional fees on business partners including the European Union, Canada and Mexico and widespread weakness in the dollar index. Silver in international markets rose by 1.71 percent to $ 39.02 an ounce.
Gold growth in gold
Gold spot in global markets increased slightly to $ 3,371.14 an ounce. Pranav Mer, the vice-president in JM Financial Services Limited, Pranav Mer, said that gold has increased again due to increasing fee uncertainty, the possibility of Russia-Ukraine war growing and increasing demand for diversification of ETF investors and central banks and prices are ready to move towards their all-time high. ‘
Mer said that during the week, market participants would closely monitor inflation figures from major economies, including the US, Britain/Euro sector, closely monitor the consumer assumptions from the US, which will give further direction to bullion prices. Language edited by: Sudhir Sharma
