In the country's capital, Delhi has set a new record by crossing the price of gold 86 thousand rupees. For the first time, the price of gold in Delhi has crossed 86 thousand rupees. The special thing is that in the month of February, the price of gold has seen an increase of Rs 1,170. In fact, gold prices are seeing a rise in foreign markets. On the other hand, RBI can cut MPC interest rates. Due to the effect, the prices of gold are seeing a boom.
On the other hand, gold is ready to touch the level of 85 thousand rupees in the futures market of the country. Experts believe that the prices of gold in local markets can be seen even more. By the way, there has been no change in the price of silver in the country's capital Delhi. Let us also tell you how much gold prices have been done on Thursday.
The record of gold in gold continued on Thursday and the price of gold in the national capital rose by Rs 270 to reach the highest level of Rs 86,070 per 10 grams. The rupee reached the lowest level so far and the stock market closed down. Gold with 99.5 percent purity rose by Rs 270 to a new level of Rs 85,670 per 10 grams. On Tuesday, this metal was closed at Rs 85,400 per 10 grams. Bullion markets were closed on Wednesday due to Delhi assembly elections. However, silver prices remained stable at Rs 96,500 per kg.
Market sources said that gold prices rose due to continuous buying of local jewelery vendors, weak rupee and fall in stock market. Gold rises by Rs 6,680 per 10 grams or 8.41 percent this year due to demand for safe investment and strong global trends. Already happened. On Thursday, the rupee fell 14 paise to the lowest level of 87.57 (temporary) against the US dollar on Thursday. On Friday, monetary policy will announce a review. The increasing possibilities of cutting interest rate in the review put pressure on the rupee. Weak rupee makes gold imports costing dollar expensive. However, precious metal declined in futures trading.
Vice-Chairman Research Analyst (Jens and Mudra) Jatin Trivedi in LKP Securities said that the focus of the market participants is focused on the monetary policy of the Reserve Bank and American non-agricultural payroll and unemployment data on Friday. Trivedi said that the rupee move and the commodity will play an important role in determining the price of gold in the market. In global markets, April delivery comes gold futures fell by $ 12 to $ 12,881 an ounce. On Wednesday, Comex futures reached another high level of $ 2,906 an ounce.
