Gold and silver prices rose for the second consecutive day on Tuesday on the back of the rise in international markets. While the spot price of gold reached close to 49 thousand, silver also crossed the 65 thousand level. In the Delhi bullion market, the price of gold rose by Rs 297 to Rs 48,946 per ten grams. At the same time, the price of silver also increased by Rs 1404 and once again reached Rs 65,380 per kg beyond 65 thousand rupees. Last trading day gold price was Rs 48,649 per ten grams. At the same time, silver was recorded at Rs 63,976 per kg.
HDFC Securities Senior Analyst (Commodities) Tapan Patel says that the main reason for the rise in gold prices is the rising trend of investors. Investors have become cautious due to increasing cases of coronavirus in the world and they are investing money in gold as a safe investment. Patel says that due to the growing circumcision of the epidemic, economic recovery has again started clouding. Due to which bullion prices are getting support.
Talking about the international market, both gold and silver remained in the lead. Gold was recorded at $ 1858 an ounce and silver at $ 25.39 an ounce.
65 thousand gold can go!
According to the research report of Kedia Commodity, gold can get up to 33 per cent return in 2021 and silver can get up to 21-33 per cent this year. Talking about 2021, the price of gold can reach up to 65 thousand per ten grams. At the same time, in the year 2021, silver can reach a level of Rs 77 thousand in the medium term while in the long term it can reach the price of Rs 85 thousand per kg.