Gold Rate Today: On Thursday, gold and silver prices saw a strong rise in Delhi’s bullion market. Gold rose by Rs 450 to Rs 99,620 per 10 grams due to buying of stockists and strong signals from global markets. Earlier on Wednesday, gold with 99.9% purity closed at Rs 99,170 per 10 grams. At the same time, gold with 99.5% purity also gained Rs 400 to Rs 99,000 per 10 grams.
There was also a big jump in silver prices. On Thursday, silver rose by Rs 1,000 to Rs 1,05,800 per kg (including all taxes). Silver closed at Rs 1,04,800 per kg in the last trading session.
Why increased prices?
The Commodity Vice President of Mehta Equality Rahul Kalantar said that gold-silver was supported by the dollar index coming to a 3.5-year low and falling to a two-month low of the US bond yield. Apart from this, there is also concern about the deadline for the US trade fee on 9 July. If there is no agreement in time, it can bring instability in the global markets, which can strengthen gold and silver demands.
Global market status
Globally, the gold spot fell by $ 8.21, or 0.24% to $ 3,348.89 an ounce. At the same time, silver in New York was trading at $ 37.01 an ounce in New York. Jatin Trivedi, vice president of LKP Securities and research head Jatin Trivedi, said that investors are now waiting for US economic data, including non-agricultural parole (NFP) and unemployment rates. These figures will play an important role in deciding the direction of the interest rates of Federal Reserve and the speed of gold and silver.
Futures market also boom
Silver futures also rose on the Multi Commodity Exchange (MCX). Silver futures rose by Rs 751 to Rs 1,08,269 per kg for September delivery. It had a business of 16,331 lots. Analysts say the prices strengthened prices by investors. Overall, due to uncertainty in the global and domestic market and weakness of the dollar, the glow of gold and silver seems to be increasing once again.