Gold Price Today: A record rise was seen in the bullion market on Wednesday (29 November). There is a tremendous rally in the prices of gold and silver on MCX. Along with the domestic market, the price of gold has also increased in the international market.
Gold Price at Record High:
A record rise was seen in the bullion market on Wednesday (29 November). There is a tremendous rally in the prices of gold and silver on MCX. Along with the domestic market, the price of gold has also increased in the international market. The price of gold in the global market reached a high of 7 months. What is the reason for the strong rise in gold and silver?
Gold created history
The weight of gold in the domestic futures market reached its highest level ever. In intraday, the gold rate on MCX reached a record level of Rs 62,602 per 10 grams. Let us tell you that the price of gold has increased by about Rs 1,500 in a week.
Along with the domestic market, tremendous growth is also being seen in the international market. The price in the global market has crossed $2,040, which is the most expensive in 7 months. The price of gold in the foreign market has increased by about $50 in a week.
The price of silver also became expensive
There is also a strong rise in the prices of silver. The price of silver on MCX has crossed Rs 75,500 per kg. There was a rise of about Rs 3,000 in the domestic market in a week. The price in the global market has reached close to Rs 25 per ounce. The price in the global market has increased by about 6% in a week.
Why is the price of gold and silver rising?
1. Fall in dollar index increased, near 102.50
2. Dollar index at its lowest level in almost 4 months
3.US 10 year bond yield at the lowest level in two and a half months
4. Bond yield reached 4.3%
5. The market does not expect further increase in US rates
