Gold on new record high today: Gold prices On Wednesday 83,750 per 10 grams making a new record Touched the level of Gold in last business session 82,840 rupees per 10 grams But it was closed. Start this year i.e. Gold prices increase by Rs 4,360 (5.5%) since January 1 Has been recorded. Gold prices have risen due to strong demand from investors, decline in dollar index and weakness of US economic data.
Jewelers, retail buyers boom due to heavy purchases
According to the All India Bullion Association, the tremendous purchases from jewelers and retail investors have brought gold prices to a new height. Since the beginning of the year, gold has been rapid, which shows that investor Safe-Haveen Asset Looking as
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Axis Securities Of Research analyst (commodities), Devaya Gaglani said, “Gold prices on MCX reached a record high, as the dollar falls in index and the US weak consumer data strengthened the notion of investors. Investors are looking for safe options after the decline in American tech stocks, which increased the demand for gold. Is.”
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Gold, silver set new record in future trade
On MCX (Multi Commodity Exchange) February delivery gold contract reached a new peak of Rs 80,517 per 10 gramsThere itself, April delivery contract at Rs 81,098 per 10 grams Closed on This is the first time gold has reached this level.
Silver prices also saw a rise. On Wednesday Silver rose by Rs 1,000 to Rs 93,000 per kg Which is done in the last business session 92,000 rupees per kg Was.
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Investors’ eye on Federal Reserve meeting
Gold prices also remain stable in the international market. Comex Gold Futures 2,794.70 an ounce But is trading Meanwhile, investor The American Federal Reserve (US FED) has a close watch on the interest rate policy,
Senior Analysts of HDFC Securities – Commodities, Saumil Gandhi said, “Demand for gold in the market has also increased because investors are looking for security from US President Donald (Trump )’s possible tariff plan.”
LKP Securities Of VP & Research Analyst (Commodity and Currency), Jatin Trivedi said, “Market partners are waiting for the decision of the interest rate policy of the Federal Reserve. Although the rates are less likely to cut the rates immediately, the speech of Fed Chairman Jerome Powell may indicate ahead direction.”
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Will gold prices increase further?
According to experts, gold prices Can be seen more fastIf the signs of economic recession in the US increase or the Federal Reserve keeps the interest rates stable, then the attention of the investors will move towards gold, which can further increase its prices. According to Kotak Securities, “After the first meeting of the Federal Reserve, investors will focus on seeing what indicates in the meeting to be held in March.”
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The recent bounce in gold prices has come due to many reasons, in which Dollar index includes weakness, weak figures of American economy and searches for investors’ safe haven assetThe strong demand of jewelers and retail buyers in India has also brought it to a new height. Further situation will depend on the decisions of the US Federal Reserve and Global Economic Since.