On Monday, gold rose by Rs 255 to Rs 52,850 per 10 grams in Delhi. Due to this, gold had closed at Rs 52,595 per 10 grams in the previous trading session.
On Monday, gold rose by Rs 255 to Rs 52,850 per 10 grams.
On Monday, gold rose by Rs 255 to Rs 52,850 per 10 grams in the national capital Delhi. HDFC Securities gave this information. Due to this, gold had closed at Rs 52,595 per 10 grams in the previous trading session. On the other hand, silver has also risen by Rs 561 to Rs 62,440 per kg.
Navneet Damani, Senior Vice President (Commodity Research), Motilal Oswal Financial Services said that gold had reached a three-month high in the last session. He told that because of this, profit-booking has been seen in it today. A top Federal Reserve official has said the central bank will not lighten its fight against inflation. This has increased the yield on bonds in America.
price in international market
In the international market, gold was present at $ 1,763 an ounce with a loss. At the same time, silver was stable at $ 21.69 an ounce. Vijay Rajani, Research Analyst at HDFC Securities, said that gold has come down from its nearly two-and-a-half-month high on Monday after the Federal Reserve official’s remarks.
Let us tell you that the festive season is going on and after that the wedding season will also start. The demand for gold for jewelry in weddings is plentiful. In such a situation, the possibility of a fall in the price of gold is less visible. Talking about the continuous increase in the price, then its local reason is less and the international reason is more.
India ranks second among the largest gold consuming countries in the world. China is at number one. Somasundaram PR, regional chief executive of WGC’s India operations, told Reuters that high inflation is likely to curb rural demand, which had begun recovering from the disruption caused by last year’s COVID-19-led lockdown. Explain that the demand for gold (excluding OTC) has reached the level of 1,181 tonnes in the third quarter. In this way, the demand for gold has registered an increase of 28 percent on a yearly basis. Increase in demand The level of annual demand for gold has reached the level before Kovid. This spurt in demand for gold came because of customers and central banks.
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