Gold, Silver price today: Due to the purchase of Dhanteras and Diwali, the prices of gold and silver rose on Friday in the domestic bullion market. The spot price of gold jumped by Rs 241 to Rs 50,425 per ten grams. The previous trading session gold was recorded at Rs 50,184. At the same time, the price of silver also rose by Rs 161 to Rs 62,542 per kg. On Thursday, silver was at Rs 62,381 per kg.
According to HDFC Securities, Dhanteras is a special day for buying gold and silver. Due to this, its shopping in the spot market was fast. Talking about the international market, there was a sharp rise in prices. Gold was trading at $ 1880 an ounce. At the same time, silver was at $ 24.32 an ounce.
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Market fear due to increasing cases of corona
Navneet Damani, Vice President (Commodities Research), Motilal Oswal, says that gold prices were rising. Investments in gold are increasing in the fear of increasing cases of Covid 19 worldwide. However, in this case, expectations have also been raised regarding a competent vaccine.
He said that due to increasing cases of coronavirus in many states of America, there is a lot of fear in the market. In many places cases have doubled. Due to this, investment in gold is increasing as a safe investment.
Somasundaram PR, managing director (India) of the World Gold Council (WGC), says that there is recovery in sales but it will not be as good as the same period last year. The challenges of lockdown are not over yet. Digital Gold platforms are expected to outperform.