Gold Price Today: Gold has become expensive in the country before the festival of Mahashivaratri. The price of gold was seen in a row for the second consecutive day amidst the weakness in the rupee and the fluctuations of the global markets. On Tuesday, gold rose by Rs 250 to Rs 89,350 per 10 grams in the Delhi bullion market. According to the All India Bullion Association, gold with 99.5 percent purity reached Rs 88,950 per 10 grams. Earlier on 20 February, gold touched an all -time high level of Rs 89,450 per 10 grams.
Silver dropped by Rs 500
However, the price of silver declined. It fell by Rs 500 to Rs 99,500 per kg. The price of silver once again went below the level of Rs 1 lakh. According to Rahul Caller, the commodity expert of Mehta Equality Limited, the price of silver declined due to weakness in industrial metals and bounce in the dollar index. He said that the global stock market has also been affected due to the possibility of Donald Trump imposing new fees and pressure on industrial metal. However, silver can be supported at a lower level by fluctuations in the US bond returns.
Economic data
Senior analyst of HDFC Securities Soumil Gandhi said that investors will now monitor the large economic figures such as the US Consumer Confidence Index and the Richmond Manufacturing Index. In addition, the comments of the Federal Reserve officials can also decide the direction of the market.
Gold prices also increased in Indore
In the bullion market of Indore, the price of gold increased by Rs 150 per 10 grams on Tuesday, while silver became cheaper by Rs 400 per kg. The impact of the fluctuations of global market and interest rates will continue on the bullion market.
The average price of Indore bullion market remains as follows
Gold – Rs 88,750 per 10 grams
Silver – Rs 97,000 per kg
Silver coin – Rs 1,100 per nos
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