Gold rate today: Gold has been trading in a range for some time now. Commodity market experts say that as global inflation is increasing and new cases of corona are coming up, gold will reach the level of 52500 by Diwali.
Gold and silver rise on the first day of the week.
Gold Silver latest price: At present, gold is about Rs 9000 cheaper than its all-time high and it has been trading in a range for some time now. Commodity market experts say that this is the best time to invest in gold. His advice is that investors should buy whenever there is a fall in it, because by the time of Diwali, this gold will shine once again and it will reach the level of Rs 52500.
On the first day of the week, there is a slight increase in the price of gold on MCX. On MCX at 10.42 in the morning, gold for delivery in August was trading at Rs 47630 per ten grams with a strength of Rs 96. Similarly, gold for delivery in October was trading at Rs 47900 per ten grams with a gain of Rs 116. At this time in the international market, it was trading at the level of $ 1,806.45 per oz with a rise of $ 4.65 (+0.26%). It had recorded a decline of 0.73 percent last week.
Today the moon is also showing speed
Today the price of silver is also seen increasing on MCX. Silver for September delivery was trading higher by Rs 197 at Rs 67221 per kg. Similarly, silver for December delivery was trading higher by Rs 225 at Rs 68,400 per kg. In the international market, silver was trading with a gain of $ 0.119 (+0.47%) at the level of $ 25.352 per ounce.
Rising inflation and new cases of corona will accelerate
Inflation rate is increasing continuously at the global level. Apart from this, the delta variant of the corona virus is also spreading rapidly. New cases of corona have started coming again in parts of America, Europe and South East Asia. Medical experts are also anticipating a third wave. This is the reason that there is every possibility of a rise in the price of gold again in the coming days. In the midst of the first wave of Corona, gold had reached the level of 56300 in August, which is its all-time high level. At present, it is about Rs 9000 cheaper than its all-time high.
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