look news india
Domestic gold is making new highs daily, leaving global markets behind. Gold prices touched an all-time high of Rs 81,500 as domestic gold prices rose for the seventh consecutive day on Wednesday.
On the other hand Rs. After touching the Rs 1 lakh mark, silver prices fell due to lack of demand and bearish selling. There was a two-way movement in bullion in the futures market.
Bullion analysts said gold prices continued to rise on increased safe-haven investment amid geopolitical tensions in West Asia, possibility of heavy buying by central banks around the world and expectations of a rate cut by the US Federal Reserve. On the other hand, the domestic price of silver was Rs. Had reached the level of 1 lakh. Then the prices came down due to profit booking.
24 carat gold per 10 grams in Ahmedabad is Rs. It was increased to Rs 700. 81,500, an all-time high. Similarly, the price of 22 carat gold is Rs 20. 81,300 per 10 grams. Local silver Rs. A soft stance is being adopted on Rs 1,000. 99,000 per kg. In global markets, gold rose by $ 11 to $ 2,750 an ounce. International silver rose 7 cents to $34.55 an ounce.
In futures, December gold futures on MCX at Rs. With a reduction of Rs 56. ₹78,656 per 10 grams. MCX Silver December Contract Rs. Decreased to Rs 883. 99,972 per kilogram. The global futures market was seen swinging between bullion and recession. If the price went up for some time, sales would increase and the price would come down again. Late on Wednesday evening, gold was trading down by $2 on Comex at $2,757.80 an ounce. Silver was down 44.10 cents at $34.60 on the Comex.
Gold in one week Rs. 3,000 increase
The price of gold has been increasing continuously since last one week. The prices have started increasing from last 16th October and after this, in the last 7 days of trading, the gold prices per 10 grams have become a total of Rs 10 per 10 grams. An increase of 3,000 has been recorded. Whereas in the month of October till now gold has cost Rs. There has been an increase of 3700. According to bullion analysts, gold is rising due to international factors, while there is no significant demand for domestic jewellery. At the current level, Zaveri is making the assumption that there will be shortage even during festivals.