Gold demand increased in the global market due to the weakness of the dollar. This led to an increase in the price of gold in markets outside the US. Due to a slight decrease in bond yield, the price of gold has also increased. On Tuesday, gold climbed 0.3 percent to $ 1733.31 an ounce in the global market, while Gold Future fell 0.4 percent to $ 1735.10 an ounce. In fact, investors are adopting gold as a safe investment due to the decline in bond yield, but due to better data on the results of the US service sector, investment in gold is also decreasing.
Gold and silver are expensive in the domestic market
Meanwhile, the rise in the prices of gold and silver was recorded in the domestic market in India. Gold rose 0.35 per cent to Rs 45,503 per ten gram in MCX, while silver climbed 0.6 per cent to Rs 64,943 per ten gram. In the last trading session, gold and silver were down by 0.15 and 0.9 percent respectively. Gold has been trading in the range of 45,700 to 44,100 rupees for the last one month.
Gold boom in Delhi market
On Tuesday, the price of gold in Delhi market saw a spurt today. Gold rose 0.40 per cent to Rs 45,530 per 10 grams on Tuesday. In August 2020, the price of spot gold in Delhi bullion market reached the mark of Rs 57008 per 10 gram. This is the highest level of gold ever. Now in the spot market, the price of gold has become cheaper by 22 percent. Actually, after the new cases of corona infection, the price of gold and silver is increasing. Investors are increasing investment in gold as a safe investment.
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