After a sharp jump in gold and silver on the day of Diwali, their prices fell on Friday. On Friday, the price of gold on the Multi Commodity Exchange (MCX) fell by 0.03 per cent to Rs 47,540 per 10 grams. On the other hand, silver prices came down to Rs 63,741 per kg. During the Muhurta trading on Diwali, the price of gold had increased by Rs 600 per 10 grams and silver by Rs 1,800 per kg. However, gold and silver prices were seen rising in the spot market.
Gold shines in spot market
On the second day of Diwali, the prices of both gold and silver have increased in the spot market. The price of gold of 916 purity has also increased and now it is available for Rs 43695 per ten grams. The price of gold of 750 purity is 35777. The price of gold of 585 purity has increased by Rs 96 to 27906. At the same time, the price of one kg of silver is Rs 63551.
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With the rise in inflation, the price of gold
On the other hand, the price of gold remained stable at $ 1,792.74 an ounce in New York on Friday. Silver prices fell 0.1 percent to $ 23.75 an ounce. Experts believe that in the coming days, the price of gold may rise further. Inflation has also started increasing with the pace in the economy across the world. Therefore, the craze of gold is increasing among investors for hedging against inflation. If inflation is not controlled, then the price of gold will increase further.
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