Gold is in demand from New Delhi to New York, silver is also on the rise

Gold Price Hike: From New Delhi to New York, tremendous growth is being seen in the prices of gold and silver. On Friday, the last trading day of the week, both the precious metals made a new record high in the bullion market of Delhi and the international markets. While gold and silver became expensive in the domestic market, a significant increase in prices was also recorded in the Comex market of New York.

Prices increased in Delhi

According to the All India Sarafa Association, the price of gold in Delhi increased by Rs 700 on Friday. Gold with 99.9 percent purity has now reached Rs 79,400 per 10 grams, which was at Rs 78,700 on Thursday.

The price of silver also jumped, rising by Rs 1,300 to Rs 92,200 per kg. On Thursday, the price of silver was at Rs 90,900 per kg.

Gold and silver rise on MCX

Gold and silver prices also saw strength on the country's futures market Multi Commodity Exchange (MCX).

Gold closed at Rs 77,128 per 10 grams with a gain of Rs 572.

During the trading session, gold reached Rs 77,248 per 10 grams.

Silver also increased by Rs 1,074, after which it closed at Rs 91,209 per kg.

Prices in the international market

Gold and silver prices also rose in foreign markets.

Gold futures rose by $ 16.20 to $ 2,681 an ounce in the Comex market.

Gold spot price rose by $ 5.23 to $ 2,643.15 an ounce.

Silver futures rose 1.81% to $ 31.11 an ounce and silver spot reached $ 30.63 an ounce.

Reasons for the rise

Experts say that this rise in prices is due to geopolitical tensions and the possible interest rate cut by the US Federal Reserve in December.

Jatin Trivedi, Vice President, LKP Securities, said that gold prices have strengthened due to increased demand for safe investment.

Saumil Gandhi, Senior Analyst, HDFC Securities, said that gold purchases have increased for safe investment. Along with this, the possibility of interest rate cut by the US Fed is also supporting the prices.

What's next?

This rise in gold and silver prices is encouraging for investors. Experts believe that amid geopolitical events and uncertainty in the global economy, the demand for gold and silver will remain as safe investments. The results of the Fed's policy meeting in December can also affect the prices.

Conclusion:

The rise in gold and silver prices from New Delhi to New York has heated up the market. This trend may continue in the near future due to increasing demand for safe investment and global economic conditions. This time can be important for investors in terms of investing in gold and silver.