Gold prices are seeing a boom for the second consecutive day. The special thing is that the price of gold has seen an increase of Rs 1,700 in two days. The biggest question is, why is the price of gold again increasing the increase in gold? Is there no decisions behind this. According to the information, the concession is ending on the tariff given by Trump on July 9. Donald Trump has made it clear that the concession till July 9 will not be extended for further. Due to which new tension has started with investors regarding tariffs. Due to which the demand for Safe Havan Gold has increased. Let us also tell you how much gold prices have gone.
Gold is expensive for the second consecutive day in Delhi
The country's capital Delhi has seen an increase for the second consecutive day. According to the All India Bullion Association, gold prices in the Delhi Sarafa market increased by Rs 500 to Rs 99,170 per 10 grams on Wednesday. In the last session, gold with 99.9 per cent purity on Tuesday increased by Rs 1,200 to Rs 98,670 per 10 grams. This means that in two consecutive sessions, gold has seen an increase of Rs 1,700 per 10 grams. Gold with 99.5 per cent purity rose by Rs 450 to Rs 98,600 per 10 grams (including all taxes). In the last business, it closed at Rs 98,150 per 10 grams. On the other hand, there was no change in the price of silver in Delhi. Silver prices were at Rs 1,04,800 per kg (including all taxes). In the global markets, the spot gold rose marginally to $ 3,342.44 an ounce.
Why did the price of gold increase?
FX and Commodity Head of Nuwama Professional Clients Group Abhilash Koera said that gold started rapidly in the July-September quarter. Recently, there has been a decrease in geopolitical risk after the Iran-Israel ceasefire with a decline from the high level of June. He said that central banks bought more than 50 tonnes of gold in June, headed by China and Turkey, while especially in Europe, amidst trade tension, gold ETFs were seen renewed in Gold ETFs. Senior analyst of HDFC Securities-Soumil Gandhi said that gold has increased by the demand for safe investment amid concerns over the widespread taxes of US President Donald Trump and concerns over the fiscal implications of the expenditure deduction bill.
Will gold prices rise more?
Kayanat Chanwala, AVP of Commodity Research in Kotak Securities, said that gold remains stable around the level of $ 3,350 amidst the new trade tension, as President Trump has said that he is not considering extending the July 9 time limit for counter -duty rates on business partners and will not delay it. According to Chintan Mehta, Chief Executive Officer (CEO) of Abson Financial Services, investors will wait for US labor data, ADP employment reports will come in the latter of the day and non-agricultural payroll and unemployment rate figures on Thursday. Mehta said that these figures would indicate the next step of the US Federal Reserve.
Source: www.tv9hindi.com
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