Gold has become costlier by Rs 4 thousand since Diwali, gold will become more expensive in the wedding season - Newztezz Online

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Monday, December 4, 2023

Gold has become costlier by Rs 4 thousand since Diwali, gold will become more expensive in the wedding season


There is a tremendous rise in the price of gold in the futures market of the country. According to data, today the price of gold has crossed Rs 64 thousand in the futures market. However, the rise in the price of gold may continue in the coming days and the price may reach close to Rs 65 thousand.

From New York to New Delhi, the price of gold is rising. The price of gold had crossed the level of $2100 on Comex. Due to which there was a tremendous rise in the price of gold in the futures market of the country. Due to which the price of gold crossed the level of Rs 64 thousand. On the other hand, silver crossed the level of Rs 78 thousand. If experts are to be believed, there may be further rise in the price of gold this year. By the end of the year the price of gold may reach close to Rs 65 thousand. Let us also tell you at what level the price of gold is trading in the futures market of the country.

Gold crosses Rs 64 thousand

The price of gold on the country's futures market Multi Commodity Exchange has crossed Rs 64 thousand. Gold price on MCX is trading at Rs 63645 with an increase of Rs 288 per ten grams at 1:07 pm. It had reached Rs 64,063 during the trading session. By the way, the price of gold has opened at Rs 63,720. However, on Friday the price of gold had closed at Rs 63,357. If experts are to be believed, further increase in the price of gold is likely to be seen in the coming days.

Silver price also increased

On the other hand, there was a rise in the price of silver in the morning and the price reached the level of Rs 78,549. At present, the price of gold is trading at Rs 77,825 with a fall of Rs 262 per kg in the afternoon. However, today the price of silver opened at Rs 78,150 per kg. If experts are to be believed, by the end of December the price of silver may cross the level of Rs 80 thousand.

Gold and silver in foreign markets

On the other hand, the prices of gold and silver had reached record levels in foreign markets. Gold future is trading at $ 2,093.50 per ons in the Comex futures market, which had reached a record level of $ 2,146 per ons. Gold spot price is trading at $ 2,073.94 per ounce. Whereas silver future is trading at $ 25.65 per ons with a decline of 0.82 percent. At the same time, silver spot is trading at $ 25.25 per ounce with a decline of about one percent.

Price will reach Rs 64,800

The price of gold is yet to rise further in the coming days. Anuj Gupta, Currency Commodity Head, HDFC Securities, said that the price of gold can reach Rs 64800 in the coming days. In fact, the Fed has indicated a cut in interest rates in the month of March. Due to which there was pressure in the dollar index and gold and silver got support.

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