Gold prices rose by Rs 63 to Rs 46,329 per 10 grams in Delhi on Wednesday.
Gold prices rose by Rs 63 to Rs 46,329 per 10 grams in the national capital on Wednesday. According to HDFC Securities, the reason for this has been the rise in the prices of precious metals in the international market. In the previous trade, the price of gold was at Rs 46,266 per 10 grams.
With this, the price of silver also rose by Rs 371 to Rs 60,788 per kg. In the previous trade, it was at Rs 60,417 per kg. In the international market, the price of gold was trading higher at $ 1,768 an ounce. At the same time, silver was flat at $ 22.80 an ounce.
Tapan Patel, Senior Analyst (Commodities) at HDFC Securities said that gold prices were trading strongly along with spot gold price on Comex Trading. It rose 0.46 percent to $ 1,768 an ounce on Wednesday. He further said that gold prices remained higher, supported by a weaker dollar and lower US bond yields.
Let us tell you that from Diwali to December, the price of gold can go from 57 thousand rupees to 60 thousand rupees. That is, the prices that are going on now can increase up to 14 thousand per 10 grams. As far as silver is concerned, there can be a big increase in it too. Most of the traders believe that silver prices may go up to Rs 76,000 to Rs 82,000 per kg by Diwali or by the end of the year.
Gold exchange to be built in India
Market regulator SEBI on Wednesday approved the proposal to set up a gold exchange. The trading of gold in the Gold Exchange will be done through Electronic Gold Receipt (Receipt) ie EGR. Electronic Gold Receipt (EGR) will be launched from any recognized stock exchange or new stock exchange. Only after the approval of SEBI will it be decided that what will be the minimum price of EGR. After this the stock exchanges will be able to convert EGR into gold. According to SEBI, the gold exchange will have a complete eco-system for trading of EGR and delivery of physical gold and will provide greater transparency and choice in gold trading in the country. Gold Exchange will be the national platform for buying and selling of EGR. Standard gold will be traded under EGR and will help in creating uniform price structure of gold across the country.