Gold also reached a record level of Rs 1,22,300 per ten grams on Monday due to steady prices in the global market. Due to this, the price of 10 grams of jewelery gold increased to Rs 1,14,100. At the same time, silver also crossed Rs 1.52 lakh per kg. This year a quarter and a half
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On the other hand, by October this month, gold has become expensive by Rs 2,200 per ten grams and silver 3,800 per kg. Committee vice-president Manish Khuntata says that this boom in gold and silver is due to increase in price in the international market, a continuous decline in the rupee against the dollar. Given the current condition, the chances of falling gold and silver are less likely.
Bhaskar Expert- Ajay Kedia, Director, Kedia Advisory
Such a trend may continue, because …
- The US has a shutdown situation due to budget deadlock. Investors are turning to safe assets.
- The Federal Reserve may reduce the interest rate. This weakens the dollar. The attraction of gold and silver increases.
- Reduction of dollar value increases the global demand for gold and silver. Prices rise in India.
- Gold and silver demand increases in Dhanteras, Diwali and wedding season. This is increasing prices.
- Heavy purchases in gold-silver future contracts in MCX. Purchased in estimates of edge increased.
- Hedge funds, ETFs are again increasing investment in precious metals. Liquidity has increased and prices have increased.
