After about two months, gold prices have set a new record in the country’s capital Delhi. Gold prices in Delhi have reached close to Rs 1.38 lakh. If experts are to be believed, the countdown of gold prices by Rs 1.50 lakh has started. There is uncertainty regarding the trade deal with America. There is a continuous decline in the rupee and there has been a decline in imports. The effect of which can be seen in the prices of gold in the coming days. The special thing is that an increase of Rs 6 thousand can be seen in the prices of gold in four consecutive trading days. Let us also tell you what the prices of gold and silver have become from the country’s capital to the futures market of the country.
Increase in gold prices
According to All India Bullion Association, due to strengthening global trends, gold prices in the country’s capital increased by a huge Rs 4,000 on Monday and reached a life time high of Rs 1,37,600 per 10 grams. On Friday, the price of gold with 99.9 percent purity closed at Rs 1,33,600 per 10 grams. Jatin Trivedi, Commodity and Currency Vice President Research Analyst, LKP Securities, said that with the international spot gold price reaching close to US $ 4,350, there was a strong rise in the domestic market and gold prices rose further. He further said that the impact of global strength was clearly visible in gold prices and it rose rapidly to its all-time high.
Increase of Rs 6 thousand in 4 days
Gold prices have reached a new record level in Delhi after two months. Earlier, gold prices had increased by Rs 3,200 and on October 17, it reached an all-time high of Rs 1,34,800 per 10 grams. The special thing is that in the last 4 trading days, an increase of 6 thousand rupees has been seen in the price of gold.
An increase of Rs 1,110 per ten grams was seen in the price of gold on Friday, Rs 90 on Thursday and Rs 800 per ten grams on Wednesday. In the current calendar year, gold prices have seen an increase of Rs 58,650 i.e. 74.3 percent. On December 31, 2024, the price of gold in the country’s capital Delhi was Rs 78,950 per 10 grams.
Trivedi further said that this surge was due to increased demand in the form of safe haven investments and expectations related to upcoming US economic data, including non-agricultural payrolls and core PCE price index. Now the focus has completely focused on US macro economic signals, which are expected to remain volatile in the market.
No change in silver prices
On the other hand, according to the association, silver prices remained steady at Rs 1,99,500 (including all taxes). This is the second consecutive trading day when no change has been seen in silver prices. There has been a record increase in the prices of silver in the current year. Records of many decades have been shattered. If we talk about the current year, there has been a huge increase of Rs 1,09,800 or 122.41 percent in silver prices as compared to Rs 89,700 per kg on December 31, 2024. Which can be called a record in itself.
Boom in foreign markets too
In international markets, spot gold prices rose for the fifth consecutive session and rose by US $ 49.83, or 1.16 per cent, to US $ 4,350.06 an ounce. In the last five sessions, the price of the yellow metal has increased by US$159.32 or 3.80 per cent from US$4,190.74 an ounce recorded on December 8. Meanwhile, in overseas markets, spot silver rose by US $ 2, or 3.24 percent, to US $ 63.96 an ounce. On Friday, the white metal had touched its highest ever level of US $ 64.65 per ounce. Praveen Singh, Research Analyst, Mirae Asset Sharekhan, said that spot gold is trading with a positive trend due to the Federal Reserve not only cutting interest rates due to high inflation but also increasing liquidity in the system by purchasing treasury bills.
Gold also made record on MCX
On the other hand, the prices of multi-commodity gold in the futures market of the country are also showing a rise and have created a new record. If we look at the data, an increase of Rs 1,874 was seen in the price of gold during the trading session and the price reached a record Rs 1,35,496 per ten grams. Whereas late in the evening, gold was trading at Rs 1,34,920 per 10 grams with a rise of about Rs 1,300. On the other hand, silver prices saw an increase of Rs 6,649 during the trading session, but could not cross the level of Rs 2 lakh. On Friday, after crossing the level of Rs 2 lakh, the prices closed at the level of Rs 1.92 lakh. This means that there was a fall of more than Rs 8000 from the record level. At present i.e. at 7:50 pm, silver was seen at Rs 1,99,288 after a rise of Rs 5,745.
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