Categories: Business

gold price crosses 51000 mark on global cues

Photo: FILE

Gold price in Delhi

New Delhi. On Thursday, gold rose by Rs 502 to reach the level of Rs 51,000 per 10 grams in the bullion market on Thursday with the help of strengthening precious metals prices in the international market. Gold crossed the level of Rs 51,443 per 10 grams, showing a rise of Rs 502, which had closed at Rs 50,941 per 10 gram in the previous trading session. However, silver declined by Rs 69 to Rs 62,760 per kg, which had closed at Rs 62,829 per kg on Wednesday. HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Due to the rise in international gold prices, the 24-carat gold spot price in Delhi rose by Rs 502 to touch a new high of Rs 51,000." , "Tensions between the US and China and an increase in cases of corona virus infection in the US have led to increased purchases by bullion investors for safe investment options." Gold was quoted at $ 1,875 an ounce in the international market, indicating silver, while silver The price remained unchanged at $ 22.76 an ounce.

Gold prices were trending upwards from last year, however in the year 2020, due to the epidemic it started showing up. In view of the Corona crisis, investors started investing in gold considered safe. Since March, the price of gold has increased by 25 percent. By the end of June, commodity experts were expecting gold to cross 52,000 levels by Diwali, although now there are indications that gold will already cross this level.

This post was published on July 24, 2020 3:36 am

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