Gold Rate Today: Buying gold became expensive, silver prices also increased

Gold has risen by Rs 294 to Rs 53,275 per 10 grams. Due to this, gold had closed at Rs 52,981 per 10 grams in the previous trading session.

Gold has risen by Rs 294 to Rs 53,275 per 10 grams.

Gold rose by Rs 294 to Rs 53,275 per 10 grams in the national capital Delhi on Tuesday amid a rise in the prices of precious metals in the international market. HDFC Securities gave this information. In the previous trading session, gold had closed at Rs 52,981 per 10 grams. On the other hand, silver has also climbed by Rs 366 to reach Rs 63,148 per kg. In the international market, gold rose to $ 1,780 an ounce and silver rose to $ 22.14 an ounce with a profit.

HDFC Securities Research Analyst Vijay Rajani said that the price of gold in Comex is hovering around the high level of almost three months. He said that investment towards bullion has been affected due to higher returns from investment in government bonds, which has affected the precious metal prices this year.

Prices in futures trade

In futures trade, gold prices rose by Rs 307 to Rs 53,025 on Tuesday. On the Multi Commodity Exchange, contracts for October delivery were trading higher by Rs 307, or 0.58 per cent, at Rs 53,025 per 10 grams. This is for a business turnover of 7,332 lots.

Let us tell you that the festive season is going on and after that the marriage season will also start. There is a lot of demand for gold for jewelry in weddings. In such a situation, there is little possibility of a fall in the price of gold. If we talk about the continuous increase in the price, then its local reason is less and 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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