Gold Rate Today: On Friday, there was a slight increase in gold prices in Delhi’s bullion market. Gold reached Rs 100 to Rs 98,600 per 10 grams due to increase in demand from jewelers and retail customers. According to the All India Bullion Association, the price of gold with 99.5 percent purity also increased by Rs 100 to Rs 98,100 per 10 grams. This price is including tax. However, there was no change in the price of silver. It remained stable at Rs 1,00,000 per kg for the second consecutive day.
What was the condition in the global market?
Talking about the international market, there was a slight decline in gold prices. The spot gold fell at $ 21.91, or 0.66% to $ 3,295.82 an ounce.
According to Kayanat Chanwala, Commodity Expert of Kotak Securities, investors are currently eyeing the major economic figures coming to the US. Especially on reports related to personal consumption expenditure (PCE) data, consumer spirit and inflation. Due to these reasons, gold is trading close to $ 3,320 an ounce in the international market.
What is its effect on the common people?
The rise in gold prices affects the common people, especially on those who want to buy jewelers for marriage or any special occasion. Although this increase is not very big right now, but if there is a continuous demand, prices can go up further in the coming days.
The price of silver is stable, investors and customers have got some relief, as silver has also emerged as a strong investment option these days.
Indication for investment
If you are thinking of investing in gold or silver, then it may be better to wait a little. The impact of global data will determine further prices. If domestic demand continues, prices are possible further.
On May 30, the Delhi market saw a slight rise in gold prices, while the price of silver was stable. The international market recorded a slight decline, but the market is still on the US economic indicators.