Gold Rate At Record High: Gold prices have reached a new historical high. In the bullion market of Delhi NCR, gold has reached a record high of Rs 67,450 per 10 grams with a jump of Rs 1130 in a single trading session. In the last trading session, gold closed at Rs 66,320 per 10 grams. Experts believe that in 2024, gold can touch a record high of Rs 70,000.
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The price of gold increased by Rs 1100 in a single session
According to HDFC Securities, due to strong global signals, there has been a sharp rise in the price of gold. Due to these signals, the price of gold rose by Rs 1130 to a record high of Rs 67,450 per 10 grams. The price of silver also saw a rise of Rs 1,100 and silver closed at Rs 77,750 per kg. In the previous trading session, the price of silver was Rs 76,650 per kg.
Support is being received from the purchase of central banks
Dilip Parmar, Research Analyst, HDFC Securities, said, the spot price of 24 carat gold in Delhi markets was trading at Rs 67,450 per 10 grams, which is an increase of Rs 1,130 from the previous closing price. He said that the spot gold prices on Comex have been supported by rising geopolitical risks and buying by central banks. Gold was trading at $ 2,202 an ounce on the international commodity market Comex, which is an increase of $ 48 from the previous closing price. Silver prices are also rising and it was trading at $ 25.51 an ounce, which was at $ 24.84 an ounce in the last session.
Gold can reach the level of 70,000
Kama Jewellery MD Colin Shah said, the US Fed Reserve has indicated a cut in interest rates thrice by the end of this year, due to which gold has reached a new high in the domestic market. After this record rise, investors’ attention will be attracted towards investing in gold, due to which investors are confident that gold can cross the figure of Rs 70,000 this year. However, he said that there is a need to be cautious about the prices of crude oil, which can put pressure on the ongoing rise in gold prices from domestic to international markets.
