Gold, Silver Price Today: The impact of the strength in global markets and the fall in the rupee was seen on the gold prices in the domestic bullion market. On Wednesday, gold prices rose by Rs 512 to cross 51 thousand in the domestic market. Where gold was recorded at Rs 51,415 per ten grams. At the same time, the price of silver also rose to Rs 64,015 per kg with a strong jump of Rs 1448. On Tuesday, the spot price of gold was at Rs 50,903 per ten grams.
HDFC Securities Senior Analyst (Commodity) Tapan Patel says that the spot price of 24 carat gold in Delhi jumped by Rs 512. In the international market, the impact of the rise in gold prices and weakness in the rupee was seen on the spot price of gold.
Talking about the international market, gold jumped to $ 1921 an ounce. While silver prices were also recorded at a slight increase at $ 25.10 an ounce.
Navneet Damani, vice president, commodity research, Motilal Oswal Financial Services, said gold rose in anticipation of a softening of the dollar and the announcement of a new coronavirus relief package ahead of the US elections in November. It also has an impact on the domestic market. was seen.
In fact, there are now about two weeks left in the presidential election in the US, due to which the price of gold is seen fluctuating. The impact of the American economy on the whole world, in such a situation, due to the uncertainty there is due to the elections, people are also growing attractive towards gold.
Gold can reach 53-54 thousand by Diwali
Gold consumption increases on festivals. There is a tradition of buying metal on Dhanteras before Diwali. Gold is a big purchase on the occasion of Dhanteras. In such a time, its demand increases.
It is prudent to buy gold before Diwali!
According to Anuj Gupta, deputy vice president of commodities and currencies research at brokerage firm Angel Broking, gold can reach 53-54 thousand by Diwali. After this, gold will fall. However, he believes that next year gold can go beyond 60 thousand. If you are thinking of investing in gold in this way, then at today’s price, good returns can be found till next year.
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