Gold, Silver Rate Today:Gold prices have once again touched the level of Rs 80 thousand per 10 grams, due to which the enthusiasm among investors and buyers has increased. Along with this, an increase of Rs 500 has also been recorded in the prices of silver. This surge is driven by increasing demand in domestic markets and international market trends. The question is, what should investors do in this environment?
Reason for rise in gold prices
According to the All India Bullion Association, on Wednesday, the price of gold of 99.9 percent purity increased by Rs 300, taking it to Rs 80,000 per 10 grams. Earlier, on Tuesday it had closed at Rs 79,700 per 10 grams. The price of gold of 99.5 percent purity also increased by Rs 300 to Rs 79,600 per 10 grams.
HDFC Securities Senior Analyst Saumil Gandhi said, “Increasing demand for gold from China has provided strength to the prices. In December, China increased its gold reserves for the second consecutive month, which is a positive sign for gold prices.” There is a signal.”
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Rise in silver prices
Silver prices have also increased rapidly and reached the level of Rs 92,500 per kg. On Tuesday, silver closed at Rs 92,000 per kg. The increasing demand from jewelers and retailers in the local markets is being said to be the main reason for this growth.
An increase in silver prices was also seen on Multi Commodity Exchange (MCX). Silver contracts for March delivery were up by Rs 224, or 0.25 per cent, at Rs 91,097 per kg.
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impact of international market
There was movement in gold prices in the international market also. On COMEX, gold futures fell by 0.09 percent and were recorded at $ 2,663.10 an ounce. However, silver outperformed and traded at $30.71 an ounce in Asian market hours.
Renisha Chainani, head of research at Augmont, said, “The US employment data released this week is likely to be weak. If the data remains weak, then expectations of the Federal Reserve cutting interest rates will increase, which will push up gold and silver prices.” Will get support.”
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Central bank and China are also the reason
Another reason for the increase in gold prices is the purchases by the Central Banks of many countries. According to the recent report of the World Gold Council (WGC), Central Banks added 53 tonnes of gold to their reserves in November 2024. Of these, eight tonnes were purchased by the Reserve Bank of India. Investors are considering China’s purchase of gold for the second consecutive month as a positive sign. Saumil Gandhi said, “China has given priority to purchasing gold to diversify its reserves after Trump returned to the White House.”
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Attraction of investing in gold and silver
The rise in gold and silver prices in India is due to factors related to both local and international markets. Import of gold has also been reduced. According to the Commerce Ministry, the gold import bill in November has been reduced from $14.86 billion to $9.84 billion. Looking at the current situation, experts believe that the demand for jewelery may increase further during the wedding season, due to which the prices of gold and silver may go up further.
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What should investors do?
This rise in the prices of gold and silver has once again given investors an opportunity to think about investing in them. Experts believe that investors should make a long-term investment strategy keeping in mind the market volatility. Renisha Chainani believes that “keeping in mind the current economic situation and the policies of central banks, investors should include gold and silver in their portfolio in a balanced manner.”
