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There are still two weeks left for Diwali, but the demand for gold is continuously increasing. Gold prices have hit a new record high in Delhi. If the pace continues like this, on the day of Dhanteras, gold prices in Delhi will cross Rs 80,000. On the other hand, an increase of Rs 1,000 has also been observed in the price of silver. Incidentally, the country’s futures market also reached the lifespan of gold on the Multi Commodity Exchange. An increase of over Rs 1,000 is also being seen in silver prices. Let us also tell you what gold and silver prices have become in Delhi…
Gold hits record high in Delhi
According to the All India Bullion Association, the price of gold in the bullion market in the country’s capital Delhi rose by Rs 250 and hit a new all-time high of Rs 78,900 per 10 gram on Wednesday. In the last session on Tuesday, gold closed at Rs 78,650 per 10 grams. Meanwhile, gold with 99.5 per cent purity jumped Rs 250 to hit a new record of Rs 78,500 per 10 gram, while the previous closing price was Rs 78,250 per 10 gram. On the other hand, due to fresh purchases by industrial units and coin manufacturers, silver also rose by Rs 1,000 to Rs 93,500 per kg. On Tuesday it closed at Rs 92,500 per kg.
Gold at record level on MCX
In Multi Commodity Exchange (MCX) futures trading, the gold contract for December delivery rose by Rs 466 to Rs 76,826 per 10 grams at 7 pm. While during the trading session, gold hit an all-time high of Rs 76,864 per ten grams. If we talk about silver, it is trading at Rs 92,624 with a rise of Rs 1,001 at 7 pm. Silver had reached Rs 92,698 during the trading session. Globally, Comex gold futures rose 0.51 percent to $2,692.50 an ounce. Silver rose 0.91 percent to $32.05 an ounce in the Asian market.
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What do the experts say?
Traders attributed the rise in gold prices to strong demand from local jewelers. Apart from this, the decline in stock markets also fueled the rise in gold as investors turned to safe haven assets like gold. Jatin Trivedi, Vice President – Commodities and Currencies, Research Analysis Department at LKP Securities, said gold prices remained high with the rise of MCX, while gold on Comex was trading above $2,675.
