Gold Price Today: A sharp rise in gold prices was seen in the bullion market of the national capital on Tuesday. The price of gold rose by Rs 350 to a new record level of Rs 81,000 per 10 grams. This increase reflects the increasing demand for gold during the festive season.

Continuous rise in silver too

Silver prices are also rising continuously. The price of silver rose by Rs 1,500 to reach Rs 1.01 lakh per kg. This is the fifth consecutive day when silver prices have increased. Last Friday, silver closed at Rs 99,500 per kg.

Impact of industrial demand

According to Arun Mishra, CEO of Hindustan Zinc Limited, the main reason for the increase in silver prices is industrial demand. Apart from this, the demand for jewelry and silver utensils is also contributing to this rise. The demand for silver utensils and jewelry has increased during the festive season, which has led to a surge in prices.

Market Conditions

Bullion traders say that the main reason for the rise in gold prices is the increased demand during the festive and wedding season. Local jewelers have shown a surge in gold purchases during this period, which has led to a rise in prices.

Activities on Multi Commodity Exchange

On the Multi Commodity Exchange (MCX), gold for December delivery rose by Rs 208 to Rs 78,247 per 10 grams. Similarly, the price of silver contract rose by Rs 882 or 0.91 percent to Rs 98,330 per kg.

Amid these rising prices, experts believe that the demand may increase even more in the coming days, especially due to Diwali and other festivals. Investors and buyers can make good use of this time. This surge in gold and silver prices is a sign that enthusiasm is increasing in the market, and people may be more inclined to invest in these precious metals.