Gold Silver Price: Silver jumped by ₹1,000 to ₹2.46 lakh per kg, gold fell by ₹300; Where did the prices reach?
Know the main points and gist of the news at a glance
Gold Silver Price Delhi: Amidst the strength in the international markets, there has been a sharp rise in the prices of silver after three days of decline in the bullion market of Delhi. According to All India Bullion Association, silver rose by Rs 1,000 to Rs 2.46 lakh per kg.
However, there was a softening in the price of gold. Gold of 99.9% purity declined by Rs 300 to Rs 1,56,700 per 10 grams (including all taxes).
What is the opinion of experts on fluctuations?
Lemon Markets Desk research analyst Gaurav Garg said that after the recent sharp fall, there has been a slight rise in silver due to the emergence of speculative buying at lower levels.
He said that the short-term sentiment of the market still remains cautious due to the strong dollar and uncertainty over the policies of the US Federal Reserve.
Despite this, demand for safe havens and continued buying by central banks are supporting the market during the downturn.
Also read- Gold Silver Price Hike: Stormy rise after two days of decline, gold became costlier by ₹ 3500 and silver by ₹ 13500; Buy now or not?
What are the latest rates of gold and silver in the global market?
Talking about the global market, spot silver increased by $ 2.06 i.e. about 3% to $ 75.60 an ounce. At the same time, gold rose by about 1% to $ 4,918.64 an ounce.
According to Saumil Gandhi, Senior Analyst (Commodity), HDFC Securities, gold is currently trading in a limited range amid mixed global signals.
Overall, the market is still keeping an eye on global cues and dollar movements with rise in silver and slight fall in gold.
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