Gold Price: On Wednesday, there was a sharp jump in gold and silver prices in the bullion market of Delhi. Due to strong signals and economic uncertainties from global markets, investors chose gold as a safe alternative, leading to an increase in its prices.
According to the All India Bullion Association, the price of 24 carat gold rose by Rs 260 to Rs 99,260 per 10 grams. At the same time, gold of 99.5 percent purity rose by Rs 100 to Rs 98,700 per 10 grams (including all taxes).
Senior commodity analyst Soumil Gandhi, Commodity Expert of HDFC Securities, said that “Gold is being seen in gold amidst global geopolitical stress, economic recession fears and business uncertainties. It has supported demand as a safe investment.
Similarly, the price of silver also saw a strong growth. Silver jumped Rs 1,900 to Rs 1,02,100 per kg (including all taxes). It closed at Rs 1,00,200 per kg in the last trading session.
The global market was also rapid. Internationally, the spot gold rose by $ 9.43, or 0.28 percent to $ 3,362.6 an ounce. According to experts, global central banks added 12 tonnes of gold to their reserves in April, although it is 12 percent less than last month. Nevertheless, there is a process of purchase of gold.
On the other hand, gold prices declined in the Indore bullion market of Madhya Pradesh. Gold came to Rs 50 per 10 grams cheaper to Rs 97,150 here. However, the price of silver rose by Rs 200 and sold at Rs 99,200 per kg. The silver coin was Rs 1,150 per nos. In this way, both gold and silver saw a mixed trend in different markets, but overall investors’ trends are still in investment in gold.
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