Gold Price Today: Gold and silver prices have seen a significant increase in the bullion market of the National Capital Region Delhi. The price of gold has reached a new all-time high of Rs 78,900 per 10 grams, while silver has increased by Rs 1,000 to Rs 93,500 per kg. This increase is mainly due to strong demand from jewelers and investors' increasing attitude towards safe investments.

Gold at the highest level

The price of gold in the bullion market of the national capital on Wednesday rose by Rs 250 to a new all-time high of Rs 78,900 per 10 grams. According to the All India Sarafa Association, gold closed at Rs 78,650 per 10 grams on Tuesday. The main reason for this increase is the continuous buying by jewelers.

Silver also jumped

Along with gold, silver prices have also seen a rise. Silver prices jumped by Rs 1,000 to Rs 93,500 per kg due to fresh buying by industrial units and coin makers. The closing price of silver on Tuesday was Rs 92,500 per kg. This increase reflects the increase in demand for silver.

Impact of local demand

Traders say that the main reason for the rise in gold prices is the strong demand from local jewelers. Apart from this, the fall in the stock markets has also given strength to the increase in gold prices, as investors are turning towards safe investment instruments.

Trading in MCX

In the futures trading of Multi Commodity Exchange (MCX), the contract of gold for December delivery rose by Rs 268 or 0.35 percent to Rs 76,628 per 10 grams. Similarly, the price of silver contract for December delivery rose by Rs 580 or 0.63 percent to Rs 92,203 per kg.

The impact of global markets

Jatin Trivedi, Vice President, Research & Analysis Department, LKP Securities said, "Gold prices remained high with gains in MCX, while Comex gold was trading above $2,675." Globally, Comex gold futures rose 0.51 percent to $2,692.50 an ounce, which also led to a rise in prices in the domestic market.

Silver in the Asian market

The price of silver also rose by 0.91 percent to $32.05 per ounce in the Asian market. This increase makes it clear that the demand for precious metals has increased globally, which is a positive sign for investors.

Thus, rising prices of gold and silver indicate that despite stability in the market, the demand for safe investment instruments remains strong.