Gold, Silver Price Today: Friday was a bullish day in the Indian bullion market. There was a rise in the prices of both gold and silver. Gold rose by about Rs 350, while the price of silver increased by Rs 600. The international market is being held responsible for this rise in gold and silver prices. Experts say that the US Gross Domestic Product (GDP) figures on Thursday indicate an economic recession and ongoing inflationary pressure. In such a situation, a rise in the price of gold was seen.
Gold and silver prices increased in Delhi
HDFC Securities Senior Commodity Analyst Saumil Gandhi said that amid the rise in precious metal prices in foreign markets, spot gold in Delhi reached Rs 72,850 per 10 grams, which is Rs 350 more than the previous closing price. In the last trading session it had closed at Rs 72,500 per 10 grams. At the same time, the price of silver also jumped by Rs 600 to Rs 84,700 per kg. Whereas in the last trading session it had closed at Rs 84,100.
How was the trend in the foreign market?
Talking about the international market, the price of one ounce spot gold in Comex was running at US $ 2,340, which is $ 21 more than the previous closing price. Similarly, the price of silver also jumped to $ 27.55 per ounce. Whereas during the last trading day, silver had closed at $ 27.20 an ounce.
Gold futures price increased by Rs 221 due to strong spot demand
Due to strong spot demand, speculators bought fresh deals on Friday, due to which the price of gold in futures trade increased by Rs 221 to Rs 71,435 per 10 grams. On the Multi Commodity Exchange, the price of gold contract for June delivery increased by Rs 221, or 0.31 percent, to Rs 71,435 per 10 grams. 19,552 lots were traded in this. Analysts said that gold prices increased due to fresh deals by traders. Globally, gold futures rose 0.61 per cent to US $ 2,357.60 an ounce in New York.
