Gold Silver Rate: Before Dhanteras and Diwali, tremendous shopping is being seen in the markets. Amid strong demand for the festive and wedding season, gold prices in Delhi’s bullion market crossed Rs 1.3 lakh per 10 grams for the first time on Tuesday. Whereas silver reached Rs 1.85 lakh per kg. This is the highest level of gold and silver till date.
According to All India Bullion Association (IBJA), 99.9 per cent pure gold rose by Rs 2,850 to Rs 1,30,800 per 10 grams, while last time it was Rs 1,27,950. Similarly, 99.5 per cent pure gold rose to Rs 1,30,200 per 10 grams, from Rs 1,27,350 earlier.
Silver also jumped strongly. Silver rose by Rs 6,000 to Rs 1,85,000 per kg for the fifth consecutive day. In the last trading session its price was Rs 1,79,000 per kg.
Market experts say that heavy shopping during Dhanteras and wedding season, demand from retail jewelers selling jewelery and weakness of rupee have taken the prices of gold and silver to new heights. On Tuesday, the rupee fell 12 paise to close at its all-time low of 88.80 per dollar.
Even in the international market, gold remains at a high level. Spot gold hit an all-time high of $4,179.71 an ounce during the day, before trading marginally lower at $4,140.34 an ounce. At the same time, spot silver slipped from the record level of $ 53.54 an ounce and closed at $ 51.36 an ounce.
Experts say that if the dollar remains weak in the coming days and festive shopping continues, then the prices of gold and silver may increase further.