Gold and Silver Price Today: Wednesday was a bullish day for the Indian bullion market. There was a jump in the prices of both gold and silver. The price of gold increased by Rs 350 per 10 grams, while the price of silver also jumped by Rs 1,100 per kg. The reduction in import duty and the increase in demand in the Indian market due to the upcoming festive season are being considered responsible for this rise in the price of precious metals.
Gold and silver prices increased in Delhi
On Wednesday, the price of gold in Delhi’s bullion market rose by Rs 350 to Rs 71,950 per 10 grams. Whereas in the previous trading session, gold was at Rs 71,600. The price of silver also jumped by Rs 1,100 to Rs 85,600 per kg. During the last trading session, it was at Rs 84,500. Meanwhile, the price of 99.5 percent pure gold rose by Rs 350 to Rs 71,600 per ten grams. Whereas its previous closing price was Rs 71,250.
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Commodity market experts say that the demand for gold has increased in the Indian markets due to the reduction in import duty and the upcoming festive season. Chintan Mehta, CEO of Abans Holdings, believes that the demand for gold is continuously increasing. In such a situation, its prices may see a further rise. The price of gold may increase further in the coming days.
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How was the trend in the international market
Talking about the international market, the price of one ounce spot gold in Comex was trading at $ 2,465.50 per ounce, up by $ 13.60. At the same time, the price of silver was also trading at $ 28.69 per ounce with a jump of 0.58 percent.
