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Once again a rise is being seen in gold and silver. The effect of the rise in the international market on Monday is being seen on metals. After some slowness, a good rise was seen in gold on the Multi Commodity Exchange today. There has been a rise in gold and silver in the retail market also. If you are also planning to take it then especially check the latest rates. Also know the reason behind the sudden rise in gold prices.
prices in the futures market
Today, gold rose by Rs 229 to Rs 77,715 on the Indian futures market MCX. Which closed at Rs 77,486 yesterday. Meanwhile, silver rose by Rs 107 to Rs 95,304 per kg, which had closed at Rs 95,197 yesterday. Gold on Comex is near $2700. Yesterday, gold rose by more than Rs 1000 on MCX and on Monday also, gold rose by around 40 dollars in the foreign market.
Rates from the official website of India Bullion and Jewelers Association ibjarate.com
According to , today 10 grams of gold of 999 purity rose by Rs 421 to reach Rs 77,113. Which closed at Rs 76,692 yesterday. Silver rose by Rs 1,175 to Rs 92,975 per kg, which had closed at Rs 91,800 per kg yesterday.
Reason for rise in gold and silver
This means that once again the purchases of central banks are increasing. After 6 months, China’s central bank was seen buying gold. China has started buying gold again in November. Central banks bought 60 tonnes of gold in October. This year, maximum purchases took place in October. India bought 27 tonnes of gold in October. Weakness in rupee is also having an impact. Rupee may reach record low against dollar. Along with this, another reason is the speculation about rate cut. It is believed that the US Federal Reserve may cut rates by 0.25 percent next week.
a special thing here
It is that the price published by India Bullion and Jewelers Association gives information about the standard price of gold of different purities. All these prices are before tax and making charges. The rates issued by IBJA are universally accepted across the country. But its prices do not include GST. The price a customer has to pay when buying jewelery is higher because it includes taxes. The price is announced twice by the association, in the morning and evening. Apart from this, making charges are not included in the price. New association rates are not announced on public holidays.
