Suspense Crime Sach Ka Dam
Gold and silver caused a stir in the bullion market on Monday. Today gold rose by Rs 750 to a record level of Rs 80,650 per 10 grams in the national capital. This is a new fresh all-time high rate so far. Apart from this, silver also made a tremendous explosion today and became costlier by Rs 5000 per kg. Today, the price of silver in Delhi jumped from Friday’s price of Rs 94,500 per kg to a new record level of Rs 99,500 per kg. According to PTI news, the All India Sarafa Association gave this information. On Friday, gold of 99.5 percent purity closed at Rs 79,500 per 10 grams, while gold of 99.9 percent purity closed at Rs 79,900 per 10 grams.
Because of this, there was an explosion in the price.
According to the news, commodity market experts say that the main reason for the ongoing boom in the silver market is industrial demand and the rise in gold. Silver’s uptrend looks strong. He said that investors will continue to see the decline as a buying opportunity, which will give good support to the white metal in the coming sessions. Apart from this, gold of 99.5 percent purity rose by Rs 750 to a new record level of Rs 80,250 per 10 grams. Bullion traders attributed the jump in gold prices to the increase in buying by local jewelers to meet the increased demand during the festive and wedding season, which supported the rise in yellow metal prices.
gold in the futures market today
A positive trend overseas as well as a decline in stock markets boosted the safe-haven appeal of gold. Gold contracts for December delivery rose by Rs 493, or 0.63 percent, to Rs 78,242 per 10 gram in futures trading on the Multi Commodity Exchange (MCX). The precious metal had risen by Rs 591, or 0.76 percent, to Rs 78,340 per 10 grams during the day on Monday. Silver contracts for December delivery rose by Rs 2,822, or 2.96 percent, to hit a lifetime high of Rs 98,224 per kg.
What do market experts say?
Jatin Trivedi, Vice President Research Analyst – Commodity & Currency, LKP Securities, said crossing the $34 level has attracted fresh buying interest in silver, as market participants expect further gains. He said the rally in silver is driven not only by its appeal as a more affordable precious metal but also by growing demand from the electric vehicle (EV) sector and photovoltaic applications, which are expected to sustain global demand in the medium to long term. Globally, Comex gold futures rose 0.52 percent to $2,744.30 an ounce.
Gold hit another new all-time high in European trading hours on Monday, trading near the $2,730 level, driven by safe-haven sentiment and prospects of ongoing monetary easing from Western central banks, Saumil Gandhi, Senior Analyst – Commodities, HDFC Securities, said. Gold in the US is contributing to increasing the risk premium in bullion. Gold has become a haven for buyers in times of uncertainty, Gandhi said. Meanwhile, silver futures rose 2.91 percent to a 12-year high of $34.20 an ounce in the Asian market.
