Strong global Due to the trend, gold prices rose by Rs 300 to Rs 89,300 in the bullion market of the national capital on Wednesday. The All India Bullion Association gave this information. On Tuesday, the price of gold closed at Rs 89,000 per 10 grams. On February 20, gold touched a record high of Rs 89,450 per 10 grams. Gold with 99.5 percent purity continued to rise in the third consecutive session. Its price rose by Rs 300 to Rs 88,900 per 10 grams. Its previous closed price was Rs 88,600 per 10 grams. The price of silver also increased by Rs 1,000 to Rs 99,000 per kg from Rs 98,000 per kg.
The boom remained for the third consecutive day
Senior analyst of HDFC Securities – Soumil Gandhi said, “Gold prices continued to rise on Wednesday, the growth continued for the third consecutive day, as the demand for safe investment properties and weak dollars supported gold.” Apart from this, Gandhi said, in addition, the implementation of American fees and the counter -action by Canada and China have increased the possibility of business war and global economic lethargy due to retaliation by Canada and China. Has been.
Fall may come forward
“Gold is trading close to $ 2,925, but it is limited as US Commerce Minister Howard Lutnik has suggested a possible fee relief for Canada and Mexico,” said Vice President-Join Research Kayanat Chanwala said in Kotak Securities. If an agreement is reached and fees are relaxed, it may increase the pressure on gold prices. ”Chanwala also said that merchants are monitoring PMI figures and American private payroll figures for information about the global economic scenario.
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