In January 2020, the price of gold in the country's capital Delhi was between 35 to 38 thousand rupees per ten grams. No one would have expected that after 5 years, the price of gold in the capital will cross one lakh rupees. Leave 5 years ago, you thought that in the month of April, gold will reach one lakh rupees till Akshaya Tritiya. Yes, it seems to be a dream. But this dream can now become a reality. The price of gold in the country's capital Delhi has now been so much that no one was expected. To reach one lakh rupees, now gold prices are required only Rs 5,850 per ten grams.
The special thing is that the prices of gold have lost the middle of middle class. This class is constantly seen moving away from gold. Due to the continuous increase in prices, it has become difficult to think of buying gold for middle class. It is not hidden from anyone that gold is very important in the country in the season of weddings. In such a situation, how will the middle class be able to buy gold, it has become a big question in you. If the price of gold continues in the same way, then the prices of gold will go beyond one lakh rupees.
If we talk on Tuesday, then the prices of gold have seen an increase of 2000 rupees. After which the price of gold has reached beyond 94 thousand rupees and has set a new record. The special thing is that in Delhi, in less than 100 days, the prices of gold have been seen by about 19 percent. Let us also tell you what kind of price prices are being seen in the price of gold in the bullion market of Delhi, the capital of the country.
Gold prices rose by Rs 2,000 in the bullion market of the country's capital Delhi and reached a new record level of Rs 94,150 per 10 grams. This is the biggest bounce of one day in two months in gold. On Friday, 99.9 percent purity gold closed at Rs 92,150 per 10 grams. According to experts, the business signal was strong due to the strong demand for alternative investment amid the decline in the stock markets. 99.5 per cent of Purity Gold also rose by Rs 2,000 to Rs 93,700 per 10 grams for the fourth consecutive day, which is its largest level so far. Earlier, the price of gold closed at Rs 91,700 per 10 grams.
The highest jump in the price of gold was recorded on 10 February, when it rose by Rs 2,400 per 10 grams. So far this year, the price of gold has increased from Rs 79,390 per 10 grams to Rs 14,760 or 18.6 per cent of January 1. The special thing is that for the first 100 days of any year, there has never been such a big increase in the prices of gold. The special thing is that to reach one lakh rupees in gold prices, Rs 5,850 per ten grams are required. According to experts, the prices of gold will reach one lakh rupees before April 30 i.e. Akshaya Tritiya.
Meanwhile, silver prices broke down by three days and on Tuesday it declined by Rs 500 to Rs 1,02,500 per kg. Silver closed at Rs 1,03,000 per kg on Friday. On Monday, bullion markets were closed on the occasion of Eid-ul-Fitr. In the international market, the spot gold reached a new high of $ 3,149.03 an ounce. Also, Comex Gold futures reached a high level of $ 3,177 an ounce. In addition, silver spotted 0.74 percent in the Asian trading hours fell to $ 33.83 an ounce.
According to Kotak Securities that gold prices have reached a record height for the fourth consecutive season, inspired by increasing concerns on potential American trade charges. The retaliation of President Donald Trump has increased with retaliation and global economic instability. The brokerage firm said in a circular that it is increasing the safe investment demand of gold in collaboration with Trump's unstable stance on the Jio-Political Uncertainty, Trump on the Russia-Ukraine conflict. According to Chintan Mehta, Chief Executive Officer (CEO) of Abson Financial Services, market participants will monitor US economic data on Tuesday, including ADP employment report and non-agricultural payroll data on Friday, which can provide information about the rate-cut of Federal Reserve.
