Gold has gained Rs 227 to reach Rs 54,386 per 10 grams. In the previous trading session, gold had closed at Rs 54,159 per 10 grams.
Gold has gained Rs 227 to reach Rs 54,386 per 10 grams.
In the Delhi bullion market, gold rose by Rs 227 to reach Rs 54,386 per 10 grams on Monday. In the previous trading session, gold had closed at Rs 54,159 per 10 grams. Like gold, silver also closed at Rs 67,270 per kg with a jump of Rs 1,166. Dilip Parmar, Research Analyst, HDFC Securities, said that due to the weakening of the dollar, gold prices have increased.
In the international market, gold remained unchanged at $ 1,798.5 an ounce. Whereas, silver has increased rapidly to $ 23.08 per ounce.
Prices in futures trade
In futures trade, gold prices rose by Rs 220 to Rs 54,070 per 10 grams on Monday. On the Multi Commodity Exchange, the contracts for delivery in October were trading higher by Rs 220, or 0.41 per cent, at Rs 54,070 per 10 grams. This is for a business turnover of 16,562 lots.
Let us tell you that the attraction of Indians towards gold is famous all over the world. Even the direct effect of this attraction is seen on the gold business of the whole world and on the import bill of India. In such a situation, it becomes necessary to know that in which region and district in India, the love for gold is more than the other part.
What is the reason for the continuous increase in prices?
Explain that three important reasons are being given for this increase. Easing of COVID restrictions in China, reducing the pace of increase in interest rates and the last reason is the fall in the dollar index.
At the same time, gold is also trading with a speed of about $ 12 in foreign markets. Gold futures in Comex are trading at $ 1,821.50 per ounce with a gain of about $ 12. The price of gold spot has increased by about $ 11 per ounce, after which the price is at $ 1,808.55 per ounce.
India ranks second among the countries with the highest gold consumption in the world. China is number one. Somasundaram PR, regional chief executive officer of WGC’s Indian operations, told Reuters that higher inflation is likely to curb rural demand, which was beginning to recover from disruption caused by last year’s COVID-19-led lockdown.
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