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Gold price today: On Wednesday, gold prices in India's capital Delhi rose to Rs 77,850 per 10 grams. This is the highest level ever. The price of gold was Rs 76,950 on the previous day.
Hike in silver prices.
The price of silver has also increased. It increased by Rs 3,000 to Rs 93,000 per kg. Earlier silver was at Rs 90,000.
Demand from investors
Gold prices have risen due to buying by jewelers and strong trends in international markets. Investors are looking for safe options, which is increasing the demand for gold.
Further growth in the future
Abhigyan (Expert) Surendra Mehta said that gold prices may increase even more in the coming time. He believes that gold can go up to $ 3,200 per ounce.
The impact of global markets
Pranav Meer, Vice President of Research at BlinkX and JM Financial, said that gold prices are getting support from the weak dollar and possible cuts in interest rates.
futures trading boom
Gold for October delivery on MCX (Multi Commodity Exchange) also rose to Rs 76,000 per 10 grams. This is a new record.
Silver futures fall
However, silver contracts for December delivery declined by Rs 419 to Rs 91,974 per kg.
Prices globally
In the global market, Comex gold is trading 0.15 percent higher at $2,681.10 per ounce.
Geopolitical tensions
Analyst Manav Modi said that gold prices are rising due to expectations of US interest rate cuts and geopolitical tensions.
It is worth noting that there are many reasons behind the rise in the prices of gold and silver. Investors should keep a careful eye on the market. This is the time to invest in gold and silver.
