Gold Price Today: Gold became costlier by Rs 200, silver price also increased by Rs 300

Gold and Silver Price Today: Friday was a bullish day for the Indian stock market. There was strength in the prices of both gold and silver. The price of gold increased by Rs 200 per 10 grams, while the price of silver jumped by Rs 350 per kg. International factors are being considered responsible for the rise in the prices of metals.

Gold and silver prices increased in Delhi

On Friday, the price of 10 grams spot gold (24 carat) closed at Rs 73,310 in Delhi’s bullion market, which is Rs 200 more than the previous close. Whereas in the previous session, gold closed at Rs 73,110 per 10 grams. The price of silver also rose by Rs 350 to Rs 93,400 per kg, which was at Rs 93,050 during the last trading session.

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There was also a boom in the international market

Talking about the international market, the price of one ounce spot gold in Comex was trading strongly at $2,363. Which is 7 dollars more than the previous closing price. Apart from this, the price of silver was rising to $30.55 per ounce, whereas during the previous session it was at US $30.40 per ounce.

These factors are responsible for the rise in precious metals

Motilal Oswal Financial Services Senior Commodity Research Analyst Manav Modi said gold and silver prices remained stable after a sharp rise earlier this week and are on track for another weekly gain, while investors await US employment data for hope of interest rate cuts this year. According to Dilip Parmar, disappointing US economic data has also fuelled the possibility of monetary easing by the US Central Bank Federal Reserve by September, which has boosted demand for gold and its prices saw a slight rise.

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Experts say that swap traders are now predicting a 70 percent chance of the US Fed Reserve cutting interest rates in September. In such a situation, gold prices are expected to trade with a positive trend. However, Praveen Singh of Fundamental Currencies and Commodities said that a strong job report could soften gold prices again.