According to experts, the effect of demand in the festive season and increase in gold prices in foreign markets is being seen on the prices of gold in the domestic market. It is anticipated that the prices may increase further in the coming time.
Gold prices continue to rise
Due to festive season demand and signals from overseas markets gold prices The gains continue even today. However, on the other hand, there has been a softening in silver today. On Thursday, gold prices have crossed the level of 52 thousand per 10 grams with an increase. According to market experts, after the festive season, the demand for gold will increase in the wedding season. Due to this, there will be further increase in gold prices and gold can reach the level of 53 thousand.
what is the price of gold and silver
According to HDFC Securities, the price of gold has increased by Rs 497 to Rs 52,220 per 10 grams in Delhi today. In the previous session, the price of gold had closed at Rs 51,723 per 10 grams. On the other hand, there has been a softening in the price of silver and the price has come down by Rs 80 per kg to Rs 61,605. In the previous session, silver had closed at 61,685 level.
According to experts, gold has increased due to the signs of foreign markets and the demand for the festive season. In the international market, gold was trading higher at $ 1722 an ounce and silver was trading with stability at $ 20.68 an ounce. According to Dilip Parmar, Research Analyst, HDFC Securities, gold is continuously rising in the domestic market due to festive demand and rise in gold prices in foreign markets.
Expected further increase in prices
According to Anuj Gupta, VP, IIFL Research, the increase in demand during festivals and foreign signals is seeing an impact on gold prices. It is expected that now there will be a rise in gold and silver. Gold can touch the level of 53000. On the other hand, silver can touch the level of 63000 to 65000. On the other hand, due to reduction in shipments by gold banks in India, there is a possibility of impact on the supply and this is also expected to increase the prices.