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Due to the continuous buying of gold by jewelery sellers, the price of gold once again reached a new lifetime high today. On Friday, the price of gold in the capital Delhi reached a new record level with a rise of Rs 50. This is the third consecutive day when the price of gold has increased. According to the All India Sarafa Association, the price of gold has increased for the third consecutive trading session, due to which the latest price of gold in Delhi today has increased to a new lifetime high of Rs 78,300 per 10 grams.
The price had increased by Rs 900 on Wednesday and Rs 400 on Thursday.
Let us tell you that on Thursday, gold rose by Rs 400 to reach Rs 78,250 per 10 grams. Whereas a day before this, i.e. on Wednesday, the price of gold closed at Rs 77,850 per 10 grams with a huge increase of Rs 900. Along with gold, the trend of increases in the price of silver continues. Due to fresh demand from industrial units and coin manufacturers, silver also rose by Rs 500 to Rs 94,500 per kg today. On Thursday, the price of silver closed at Rs 94,000 per kg.
Jewelers are buying gold in large quantities to meet the demand of festivals and weddings.
Market sources said that jewelers are continuously buying gold in large quantities to meet the demand of festivals and weddings. Along with this, due to the strong trend in foreign markets, gold prices have reached the highest level this year. Apart from this, bullion prices have also increased due to the stance of the US Federal Reserve that they will maintain an aggressive pace of interest rate cuts this year.
Gold prices fall on MCX.
Meanwhile, the price of gold contracts for October delivery fell by Rs 181 to Rs 75,206 per 10 gram in futures trading on the Multi Commodity Exchange (MCX). The price of silver contracts for December delivery fell by Rs 142 to Rs 92,522 per kg. Internationally, gold was down 0.29 percent at $ 2,687.20 an ounce in the commodity market. Globally, silver also fell 0.36 percent to $ 32.23 an ounce during Asian trading hours.
