Gold at an all-time high ten-gram @ Rs 56191 with an increase of Rs 685

 

Due to the uncertain global economic environment, gold and silver demand remains. Due to this, the prices of both metals are continuously increasing. Along with the international market, gold and silver prices are setting new records every day.

 

On Friday, on the Multi Commodity Exchange (MCX), gold futures once again set a new record of all-time highs. Gold opened at Rs 55506 per ten grams in the morning. In a short time, it rose by Rs 685 to Rs 56191 per ten grams. This is the new gold all-time high record. However, this boom could not last long and then broke down and fell below the level of 56 thousand. It is trading at Rs 55750 per 10 grams with a fall of Rs 95 at around 10 am. On Thursday, gold had closed at Rs 55,845 per 10 grams. This is the October delivery price.

 

Due to increasing interest in safe investment globally, prices of silver futures are also registering a steady rise. MCX began trading in silver at Rs 75,063 per kg on Friday. In a short time, it rose by Rs 2886 to Rs 77,949 per kg. With this increase, silver has reached close to 78 thousand rupees per kg. This is its new all-time high record. Silver had closed at Rs 76,052 per kg on Thursday. This is the September delivery price.

 

MCX has witnessed a sharp rise in gold and silver prices in the last five sessions. On July 31, gold had closed at Rs 53,445 per ten grams and silver at Rs 64,984 per kg. In the subsequent five seasons, till now, gold has become expensive by Rs 2746 per ten grams and silver by Rs 12965 per kg.

 

Gold has reached $ 2060 an ounce due to heavy demand in the international market. At the same time, silver is trading at $ 28.36 an ounce. On Thursday, gold traded up to $ 2070 an ounce and silver-topped $ 30 an ounce. This was the biggest increase in gold and silver prices in a week after 2006. One ounce contains about 28 grams.

 

Commodity analyst, Anshul Jain Sr. Technical Strategist at Lakshmishree Investments & Securities Pvt Ltd says that silver can go up to Rs 80,000 per kg and gold can go up to Rs 60,000 per 10 grams. He said that the interest of people in the Corona era towards safe means of investment and the weakness in the dollar are supporting the rise of gold and silver which can continue even further.