Gold Rate Today: Buying gold has become expensive, know how much is the cost of 10 grams

Gold rose by Rs 138 to Rs 49,786 per 10 grams.

On Monday, gold rose by Rs 138 to Rs 49,786 per 10 grams in the bullion market of the national capital Delhi. HDFC Securities gave this information. Due to this, the yellow metal had closed at Rs 49,648 per 10 grams in the previous trading session. Apart from this, the price of silver has also increased by Rs 224 to Rs 56,514 per kg. Silver had closed at Rs 56,290 per kg in the previous trading session.

In the international market, gold was trading at $ 1,639 an ounce with a loss. Whereas, silver has remained stable at $ 18.67 an ounce.

Prices in futures trade

In futures trade, gold prices have risen by Rs 219 to Rs 49,620 per 10 grams on Monday. On the Multi Commodity Exchange, contracts for October delivery were trading lower by Rs 219, or 0.44 per cent, at Rs 49,620 per 10 grams. This is for a business turnover of 5,569 lots.

Let us tell you that due to the tension between Russia and Ukraine, slowdown in the global economy and high inflation, gold prices may see a huge increase. It has been told in the report that according to experts, gold prices can touch the figure of Rs 55,000 this year. With this, gold can reach Rs 62,000 next year.

What’s next for gold?

Let us tell you that the World Gold Council believes that the condition of the global economy at present, then there is every possibility of the demand for bullion in it.

Due to demand, prices in the domestic market are not expected to fall beyond a limit. On the other hand, if there is a change in foreign signals, a sharp rise in gold can also be seen in the coming time. Investment demand for gold has declined due to the rise in US dollar and Treasury yields, which has brought down prices. In fact, there are indications that the Federal Reserve will continue its aggressive stance on rate hikes. Even after the recent gains, there is no sign of weakness in the latest data of the US economy, due to which the Federal Reserve can focus its attention on controlling inflation.

(with language input)