Gold Price Today: Silver reached a record high of two weeks, gold also rose

Gold and Silver Price Today:Due to the strong trend in the prices of precious metals in the international markets, the price of silver reached a new record level in about two weeks. According to HDFC Securities, on Tuesday, during the second consecutive trading session in the bullion market of Delhi, the price of silver jumped by Rs 3,100 and reached a record high of about two weeks at Rs 95,950 per kg. Whereas on Monday it closed with a rise at Rs 92,850. At the same time, the price of gold also saw a slight increase for the second consecutive day. The price of gold rose by Rs 130 to Rs 72,950 per 10 grams. During the last trading session also, its price rose by Rs 220 to close at Rs 72,820.

How was the trend of gold and silver in the international market

Talking about international markets, the price of one ounce spot gold in Comex was trading at US $ 2,346, which is $ 2 more than the previous closing price. On the other hand, the price of silver also rose here and was trading at US $ 31.50 an ounce. With the help of a weak US dollar, the price of gold was trading with a slight increase in European trading hours on Tuesday. HDFC Securities Senior Commodities Analyst Saumil Gandhi said that investors are eagerly waiting for the US inflation rate data. Actually, the inflation rate data can indicate how soon the US Central Bank Federal Reserve will decide to reduce interest rates. Also, it will decide the future direction for gold prices.

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Jatin Trivedi, Vice President and Commodity Research Analyst, LKP Securities, said that there was a softening in the price of gold in the first session of the trading session in both Comex and MCX markets. After yesterday’s strong rise, the price of one spot gold in Comex stopped in the range of 2,340-2,353 US dollars and the price of spot gold per ten grams in MCX stopped in the range of Rs 71,770-72,030. The market witnessed a mixed response due to the renewed tension in the Middle East. This week, investors’ attention is on the PCE price index to be released on Friday, which will give an indication about the inflation rate. Amid the expected volatility, the price of ten grams spot gold in MCX is expected to remain active in the range of Rs 71,500-72,500.