Gold Rate Today on a New High :Gold has once again achieved a new high on Friday, breaking its previous record. In the national capital, the price of gold increased by Rs 200 to reach Rs 83,100 per 10 grams. This is the first time that the price of gold has crossed the psychological level of 83 thousand. Gold has shown this upward trend for the 8th consecutive trading session. Uncertainties in the global market and increasing demand for safe investment options have promoted this rise in gold prices.
Condition of gold in domestic and global market
In the domestic market, the price of gold of 99.9 percent purity has increased by Rs 200 to Rs 83,100 per 10 grams. Gold of 99.5 percent purity also increased by Rs 200 to reach Rs 82,700 per 10 grams.
Gold’s performance remained strong in the international market also. Comex gold futures rose by $15.50, or 0.56 percent, to $2,780.50 an ounce. According to Qainat Chainwala, AVP-Commodity Research, Kotak Securities, “Investors will keep an eye on early signals of global economic activity and US housing data, which may determine the direction of gold prices.”
Best Return Mutual Funds: Top 5 Multi Asset Allocation Funds, i.e. strength of strength amidst turmoil, yet returns are not low!
condition of futures market
Even in futures trade, gold prices are rising to record levels. On the Multi Commodity Exchange (MCX), the gold contract for February delivery was trading at Rs 79,960 per 10 grams, up Rs 334 or 0.42 per cent. During the day it touched a record high of Rs 80,050 per 10 grams.
Also read: NFO vs IPO: How right is the path of NFO for investing in mutual funds? Don’t you think of this as an IPO? clear up confusion immediately
There was a rise in silver also
A rise was also seen in the prices of silver on Friday. In the domestic market, silver rose by Rs 500 to reach Rs 94,000 per kg. At the same time, silver futures for March delivery on MCX were trading at Rs 91,984 per kg, up by Rs 835 or 0.92 percent. In the international market, Comex Silver Futures rose by 1.53 percent to reach $ 31.32 an ounce.
Also read: Mutual Fund Toppers: 14 masters of equity mutual funds! Best returns given in every category since last 5 years
Why is gold jumping?
Saumil Gandhi, Senior Analyst, HDFC Securities, says, “The current rise in gold prices is due to uncertainties in the global market. The situation created by US tariff plans and other policies has increased the demand for safe investments.”
Devya Gaglani, Research Analyst, Axis Securities, says, “Prices on MCX are close to record highs. The uncertain environment created by US tariff policies and trade policies has boosted the demand for safe investments.” At the same time, according to Jatin Trivedi, VP-Research Analyst, LKP Securities, “Decisions related to the upcoming Union Budget and interest rates of the US Federal Reserve will affect bullion prices in the future.”
Also read: Small Cap Champion: The country’s biggest small cap fund is the champion in 10 year returns, the money doubled in 3 years and four and a half times in 5 years.
Where will the pace of gold go next?
According to experts, in view of the instability of the global market and increasing interest towards safe investments, gold prices are likely to rise further. However, upcoming economic data and policy decisions can have a big impact on prices. The continuous record breaking of gold prices shows that investors consider it a safe option in times of global uncertainties. After crossing the level of 83 thousand, now investors will keep an eye on the upcoming economic and policy decisions, which can further affect the gold prices.
