Gold Price Hike: Important news for gold buyers. Let us tell you that the rates of gold and silver have been witnessing a rising trend for some time. At present, gold has also crossed the record level of Rs 61700. However, silver is still far from the record level of Rs 77000. In such a situation, before planning a purchase, definitely check the latest price.
Gold Price: A rise in the prices of gold and silver is being seen amid the weak dollar and the expectation of ban on interest rate hike in America. A day earlier on Monday, gold had crossed the highest level of six months in the global market.
Gold and silver rates have been witnessing a rising trend for some time now. At present, gold has also crossed the record level of Rs 61700. However, silver is still far from the record level of Rs 77000. A slight decline is being seen in MCX during Tuesday’s trading session.
Fall in MCX-
There was a decline in the rates of both the metals on Multi Commodity Exchange (MCX) on Tuesday. On MCX, gold is falling by Rs 5 and is trending at Rs 61932 per 10 grams and silver is falling by Rs 93 at Rs 76392 per kg. Earlier, on MCX, gold had closed at Rs 61937 and silver at Rs 76485 per kg. The expectation of lower interest rates makes financial instruments less attractive to investors than gold, which is considered a safe investment.
Bullion market continues to rise –Â
The bullion market rate is released every day by the official website of IBJA. On Tuesday, a rise in the rates of both gold and silver was seen. In the bullion market, gold was seen rising by more than Rs 450 at Rs 61895 per 10 grams. Apart from this, silver rose by more than Rs 1900 to reach Rs 74993 per kg. Earlier, gold had closed at Rs 61437 per 10 grams and silver at Rs 73046 per kg.
After the start of the wedding season, the demand for gold in the domestic market remains strong. Actually, gold and silver are gifted in large quantities to the bride and groom.
