Gold prices rose by Rs 455 to Rs 46,987 per 10 grams.
Silver, Gold Price Today: Gold prices on Thursday rose by Rs 455 to Rs 46,987 per 10 grams in the national capital Delhi. According to HDFC Securities, the reason for this is that there has been a strong trend of gold in the global markets. In the previous trade, gold had closed at Rs 46,532 per 10 grams.
Apart from this, silver also rose by Rs 894 to Rs 61,926 per kg. In the previous trade, silver was at Rs 61,032 per kg. In the international market, gold was trading higher at Rs 1,795 per ounce. And silver remained flat at $ 23.20 an ounce.
Why did gold prices rise?
Tapan Patel, Senior Analyst (Commodities) at HDFC Securities said gold prices were trading 0.12 per cent higher at $1,795 an ounce along with spot gold prices on Comex Trading. He further said that gold prices remained in a strong trading range, supported by a weak dollar and inflationary concerns.
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.
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