Gold Price Today: Gold rose by Rs 6000 in three months, expected to touch new heights in near future
Buying gold is very popular in India. Be it marriage, festival or any other occasion seems incomplete without buying gold. This never reduces the demand for gold. At the same time, the supply of gold is limited. As people buy gold, its price also increases. Indian futures market today Sleep Record high has been reached once again. Gold futures on MCX rose 0.4% to Rs. 58000 per 10 grams was reached. Bullion has been rallying since early November on the back of a lower dollar and Treasury yields. Gold has also been supported by rising recession concerns.
Gold became expensive by Rs 6000 in 3 months
According to the IBJA website, on October 31, the price of 24-carat gold was Rs 50,480, while that of silver of 999 purity rose to Rs 58,755 per kg. On the other hand, gold today gained Rs 230 to close at Rs 30 on the Multi Commodity Exchange. Was trading around 58000 per 10 grams. In the three months since the beginning of November, gold has gained about ₹6,000.
How far will the price go?
“Change in Fed’s aggressive rate hike stance, positive inflows into ETFs and central bank gold buying will boost sentiment and push gold prices higher,” said Navneet Damani, Head of Commodities and Currencies, Motilal Oswal. He expects gold prices to reach Rs 60,000-63,000 per 10 grams in calendar year 2023. Anuj Gupta of IIFL Securities also sees gold in calendar year 2023 at Rs. 58,000 to Rs. 60,000 per 10 grams is expected to reach.
Know the rate of gold by missed call
It is noteworthy that you can easily find out these rates sitting at home. For this, you have to give a missed call on this number 8955664433 and a message will come on your phone, in which you can know the latest rate.