There was a sharp jump in the price of gold, the price of silver also increased

Gold Price Today: Gold and silver prices saw a significant rise in Delhi's bullion market on Tuesday due to strong trends in the global market and increased local demand. According to the All India Sarafa Association, the price of 99.9 percent pure gold jumped by Rs 600 to Rs 78,050 per 10 grams. In the previous trading session, it closed at Rs 77,450 per 10 grams.

Demand for weddings became the main reason

Traders say that due to the wedding season in India, the demand has increased, which supported the prices in the local market. Along with this, a huge jump was also registered in the prices of silver. The price of silver was Rs 92,000 per kg on Monday, which increased by Rs 1500 to Rs 93,500 per kg on Tuesday.

Prices of 99.5 percent purity gold also increased

Along with gold of 99.9 percent purity, the prices of gold of 99.5 percent purity also increased by Rs 600. This gold is now available at Rs 77,650 per 10 grams, while in the previous session it closed at Rs 77,050 per 10 grams.

Gold trend in the international market

Internationally, gold futures on Comex rose by $ 19.50 to $ 2,634.10 an ounce. Jatin Trivedi, Vice President and Commodity Research Analyst, LKP Securities, said that investment in gold has increased due to geopolitical tensions, especially the Russia-Ukraine conflict and concerns over nuclear risks. This rise in prices has come due to increased demand for gold as a safe investment option.

Impact of dollar and US bond yield

According to Saumil Gandhi, Senior Analyst, HDFC Securities, the fall in the dollar and US bond yield has also supported gold prices. On Tuesday, gold crossed a one-week high of $2,615 an ounce. Also, Comex silver futures rose 0.79 per cent to $31.47 an ounce.

Donald Trump's victory and impact on gold

The dollar strengthened after Donald Trump's victory in the US presidential elections in 2024, which affected gold prices. However, geopolitical tensions and safe investment demand kept gold at a high level.

What does the market trend say?

The recent rise in gold and silver indicates that investors' trend is moving towards safe investment options. Both local demand and international conditions together can lead to further rise in prices in the coming times.