North India Statesman
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Due to uncertainty and aggressive investment in the global market, there was a tremendous rise in gold and silver prices on Friday. Gold rose by Rs 200 in Delhi to a historic level of Rs 83,100 per 10 grams for the first time. This is the increase in the eighth consecutive season.
Gold and silver prices
- Gold (99.9% purity): Rs 83,100 per 10 grams (increased by Rs 200)
- Silver: Rs 94,000 per kg (up to Rs 500)
On Thursday, gold closed at Rs 82,900 and silver at Rs 93,500 per kg. Comex gold futures also increased by $ 15.50 in the international market and reached a level of $ 2,780.50 an ounce.
What is the reason for rising gold prices?
1. Global economic uncertainty
According to Saumil Gandhi, senior analyst of HDFC Securities, the main reason for the rise in gold prices is the US possible tariff scheme and policy uncertainty. These circumstances have made gold even more attractive as a safe investment option.
2. Increasing trend of safe investment
Investors prioritize gold at the time of economic uncertainty. This trend is clearly visible in recent market conditions.
3. Causes of silver gains
The increase in silver demand is related to both industrial and investment sectors. Silver prices also remain strong in global markets, which are positively impacting the domestic market.
Experts’ opinion
Saumil Gandhi, HDFC Securities
The continuous increase in gold is due to America’s tariff schemes and presidential policies. Gold demands have increased as an alternative to safe investment.
Kayanat Chanwala, Kotak Securities
Investors can focus on major global economic indicators, especially Purchasing Manners Data and residential data released in the US.
Jatin Trivedi, LKP Securities
The decisions of the upcoming Union Budget and the US Federal Reserve’s interest rate will decide the future of the bullion market.
