Gold price today: Gold and silver prices rose on Monday in the bullion market in the national capital Delhi. Gold with 99.9 percent purity increased by Rs 200 to Rs 87,900 per 10 grams due to increased purchases of jewelers and retailers and weakening of Rs. In the last session of Friday, gold closed at Rs 87,700 per 10 grams. At the same time, gold with 99.5 percent purity increased by Rs 200 to Rs 87,500 per 10 grams. The price of silver was also seen to have a strength of Rs 100, causing it to reach Rs 96,500 per kg.
Why the boom in gold
Jatin Trivedi, vice president of LKP Securities and commodity expert Jatin Trivedi said that gold remains an option for safe investment due to global uncertainties. Stress on dialogue between US and Ukraine leaders is also an important reason for this rise in prices. Apart from this, investors have also increased towards gold due to dollar fluctuations and existing fees concerns. However, any positive news related to Russia-Ukraine relations or any positive news related to trade fee may fall.
Gold prices also saw an increase in international markets. Gold futures for April delivery rose by $ 34.80 to $ 2,883.30 an ounce, while the spot gold rose 16.52 to $ 2,874.35 an ounce. Senior commodity analyst of HDFC Securities Soumil Gandhi said that the increased demand for safe investment saw this slight increase in gold prices. According to Chintan Mehta, Chief Executive Officer of Abans Holdings, the market will monitor US inflation signs, manufacturing prices and PMI data this week. Apart from this, non-agricultural employment figures released at the end of the week can also affect gold prices.