Gold Silver Price: Due to bond yield and weakness in dollar, there was a tremendous rise in gold and silver this week. Its price jumped up to Rs 3100. Know what is the latest rate in your city.
Gold Silver Price: Due to weakness in US bond yield and dollar index, there was a tremendous rise in gold and silver. This week, gold made a new all-time high on MCX. In the last trading session of the week, gold closed at Rs 60713 per ten grams. This week it recorded a rise of Rs 1054. Silver closed at Rs 73140 per kg on MCX. On weekly basis, a rise of Rs 3107 was recorded in silver.
It became expensive by Rs 1200 on Friday
In Delhi bullion market on Friday, gold gained Rs 540 and silver gained Rs 1200. After this rise, the price of 10 grams of gold reached Rs 61750 and the price of silver reached Rs 76500 per kg. Regarding this rise, HDFC Securities Senior Analyst Saumil Gandhi said that gold has got strong support in the global market. Weak labor market data is supporting this commodity. It is believed that the Federal Reserve will not increase interest rates any more.
Why did gold and silver rise?
In fact, in the American labor market data that came this week, the data on taking unemployment benefits was higher than expected. This means that the effect of high interest rates has started becoming visible on economic activity. What the Federal Reserve wants is that economic equity should weaken and there should be some weakness in demand. With this, inflation can be controlled. Due to such signals, the market feels that the Federal Reserve will not increase interest any more.
Price of 24 carat gold
Here, according to the information available on the website of IBJA i.e. Indian Bullion Jewelers Association, this week the price of 24 carat gold closed at Rs 6117 per gram. The price of 22 carat closed at Rs 5970, the price of 20 carat closed at Rs 5444, the price of 18 carat closed at Rs 4955 and the price of 14 carat closed at Rs 3945 per gram. This rate does not include 3% GST and making charge. The price of silver of 999 purity closed at Rs 73747 per kg.
Latest price of Crude Oil
In the international market, spot gold closed at the level of $ 1981 per ounce. Silver closed at the level of $ 23.73 per ounce. Talking about crude, due to high American inventory on Thursday, it fell by more than 4 percent and slipped to $ 77 per barrel. However, on Friday it also jumped by 4 percent and then closed above $ 80 per barrel.
