Gold Price: Gold became costlier by Rs 220, silver price increased by Rs 1,050, effect of increasing geo-political tension

Gold and Silver Price Today: After falling for three consecutive trading sessions last week, gold and silver prices rose on Monday. The price of gold increased by Rs 220 per ten grams, while the price of silver also increased by Rs 1,050 per kg. International factors are being held responsible for the rise in the prices of precious metals. Experts believe that geopolitical tension has increased in West Asia after the air strike by Israel in Rafah. Due to which the demand for gold increased among investors as a safe investment option and due to this, the prices of precious metals were affected.

Gold and silver prices increased in Delhi

HDFC Securities Senior Commodity Analyst Saumil Gandhi said that the price of 10 gram spot gold (24 carat) in Delhi jumped by Rs 220 to Rs 72,820 per 10 grams on Monday amid strong trend in the foreign market due to increasing tension in West Asia. Whereas during the last trading session on Friday, gold closed at Rs 72,600 per 10 grams. At the same time, the price of silver also increased by Rs 1,050 to close at Rs 92,850 per kg. In the last trading session, it closed at Rs 91,800 per kg.

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How was the price of precious metals in the foreign market

Talking about international markets, the price of one ounce spot gold in Comex was trading at 2,344 US dollars, which is 9 dollars more than the previous closing price. On the other hand, the price of silver also increased to $ 30.75 per ounce. Saumil Gandhi said that due to the support of the soft US dollar, gold once again started trading with a positive trend.