Gold, Silver Price Today: The price of gold remained stable at Rs 79,700 per 10 grams in Delhi’s bullion market on Friday. Whereas in the last trading session on Thursday it closed at Rs 79,720. During this period, the price of gold of 99.5 percent purity increased by Rs 130 to Rs 79,300 on Friday. At the same time, the price of silver decreased by Rs 230 to Rs 90,400 per kg. In the last trading session it had closed at Rs 90,630.
In the Multi Commodity Exchange (MCX), the price of future gold for February delivery was trading at Rs 77,723 per 10 grams, up by Rs 6. In futures trade, the price of silver was up by Rs 517 or 0.58 per cent at Rs 89,690 per kg.
Also read: EPFO: Centralized pension system implemented in the country, now EPFO members will be able to withdraw pension from any bank.
There was a rise in the prices of gold and silver in the international market
Talking about the international level, the price of one ounce future gold in Comex is trading at $ 2,671.10 with an increase of US $ 2.10 i.e. 0.08 percent. The price of silver is also rising by 1.05 percent at US $ 30.22 per ounce as compared to the previous trading session.
What was the reason for the rise?
Jatin Trivedi, Vice President, Commodity-Currency Research, LKP Securities, said that gold prices are trading with slight gains in the domestic market, while in Comex, gold is stable around US $ 2,655 per ounce. He said that at present There is no major change happening in the market and people are looking towards various international events or data to understand which direction the market will go. Until they get clear signals, they are actively avoiding trading.
There was a rise in gold prices due to increasing demand for safe investment option at the international level. Saumil Gandhi, Senior Analyst, HDFC Securities believes that This situation arose when it was reported that US President Joe Biden discussed possible military action against Iran, which is a serious geopolitical situation. This increased uncertainty in the market, due to which the demand for gold increased and its prices saw a rise.
Also read: Tax Planning in 2025: Want to reduce tax liability in the new year? Your work will become easier with these 6 measures
What will be the trend going forward?
Manav Modi, Commodity Research Analyst, Motilal Oswal Financial Services, said that people in the market are paying attention to the current geopolitical tensions, which is increasing volatility in the market and due to which the demand for gold and dollar is increasing. Apart from this, PMI related to America’s construction sector is coming soon. This data can help in understanding the direction of gold prices. Investors are eagerly waiting for the upcoming data.
How was the price of gold and silver throughout the week?
monday – Gold price increased by Rs 150, silver stable
Tuesday – Gold fell by Rs 550, silver price also fell by Rs 2,000
Wednesday – Gold price increased by Rs 440, silver also became costlier by Rs 800
Thursday – Gold strengthened by Rs 330, silver rose by Rs 130
Friday – Gold almost stable at Rs 79,700 per 10 grams, silver slipped Rs 230
