Gold prices have risen by Rs 129 to Rs 46,286 per 10 grams on Tuesday.
Silver, Gold Price Today: Gold prices in the national capital Delhi have increased by Rs 129 to Rs 46,286 per 10 grams on Tuesday. According to HDFC Securities, this has happened due to the rise in the prices of the precious metal in the international market and the depreciation of the rupee. In the previous trade, gold had closed at Rs 46,157 per 10 grams.
In comparison, silver fell by Rs 120 to Rs 60,369 per kg. In the previous trade, silver was at Rs 60,489 per kg. The Indian rupee on Tuesday fell 6 paise to 75.42 against the US dollar in early trade.
In the international market, gold was trading flat at $ 1,757 an ounce and silver at $ 22.56 an ounce with a jump.
Why did the price of gold rise?
Tapan Patel, Senior Analyst (Commodities) at HDFC Securities said gold prices were trading strongly along with spot gold prices on Comex. It has been up 0.19 percent on Tuesday at $ 1,757 an ounce.
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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