Gold shines again and silver also becomes stronger

Agencies, New Delhi
Gold and Silver Price: Amid the rise in the prices of precious metals in the international market, the price of 24 carat gold increased by Rs 500 to Rs 65,650 per 10 grams in the bullion market of the national capital on Thursday. This is its highest level till date. HDFC Securities gave this information. This is the third consecutive day when the price of gold is increasing and it is moving towards record high levels. A day earlier on Wednesday, the price of gold has increased by Rs 150 and reached a record high of Rs 65,150 per 10 grams. On Tuesday, gold reached the level of 65000 for the first time.

Accordingly, the price of silver also increased by Rs 400 to Rs 74,900 per kg. It closed at Rs 74,500 per kg in Wednesday’s trading session. In the international market, gold spot in Comex (commodity market) was trading strongly at $ 2,152 an ounce, which is $ 30 more than the previous closing price. HDFC Securities’ Saumil Gandhi said gold on Comex hit a new high of $2,161.50 an ounce in Asian trading hours after US Federal Reserve chief Jerome Powell reiterated that the US central bank will lower interest rates this year. reached at. Silver was at $24.10 per ounce as compared to its previous closing price of $23.75 per ounce.

Going forward, the market’s focus has shifted to the upcoming US Consumer Price Index (CPI) data for February, said Jatin Trivedi, vice president, research analysis department, LKP Securities. This will prove to be an important factor for the direction of gold prices next week. Additionally, non-farm payrolls and unemployment data to be released on Friday will provide further direction for gold trends.

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