Categories: Business

Gold and silver price surge on global cues

Photo: FILE

gold and silver price surge

new Delhi. Due to the steep rise in gold and silver in overseas markets, there has been a sharp rise in the prices of gold and silver in the domestic market. On Wednesday, gold rose sharply by Rs 1,365 to Rs 56,181 per 10 gram in Delhi Sarafa Bazar. HDFC Securities gave this information. Silver also closed at Rs 72,726 per kg with a huge jump of Rs 5,972, which had closed at Rs 66,754 on Tuesday. The closing price of gold on Tuesday was Rs 54,816 per 10 grams. HDFC Securities Senior Analyst (Commodity) Tapan Patel said, "After the steep rise in international prices, the spot price of 24-carat gold in Delhi rose sharply by Rs 1,365". In the international market, gold rose sharply to $ 2,032 per dollar. The ounce was reached while the silver price reached $ 26.40 an ounce.

Kishore Narne, head of Commodity and Foreign Exchange, Motilal Oswal Financial Services, said, "Gold and silver are the highest-yielding assets so far this year." These have yielded profits of 40 per cent and 50 per cent respectively this year. ”He says that trade concerns about the pace of global economy due to the liberal monetary policy of central banks, tension of trade war between US and China and Korana virus. Due to such reasons, the market for both expensive metals is continuously climbing. Patel said, "The price of gold has reached a new high due to concerns about the economic growth rate due to the weakening of the dollar and the growing cases of Kovid-19.

This post was published on August 5, 2020 9:19 pm

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