Gold Price Sets a New Record Price Crosses 85 Thousand With An Increase of 400 Rupees

Gold and Silver Price: In Delhi today, the price of gold jumped Rs 400 to a new record level of Rs 85,300 per 10 grams. According to the All India Bullion Association, the price has increased so much due to the frequent demand of jewelery vendors and stockists. Whereas traders credited this increase in the price of gold to a sharp decline in the rupee and the oil stir in the international markets.

Trump tariffs these countries

In fact, there has been a huge decline in the rupee between Canada, Mexico and China to set up tariffs by US President Donald Trump and a huge drop in the dollar index. The rupee closed at 87.17 (temporary) per dollar on Monday in the foreign currency exchange market.

Gold prices continue to rise

On Saturday, gold with 99.9 percent purity closed at Rs 84,900 per 1`10 grams, while gold with 99.5 percent purity continued to rise in the fourth consecutive session and it rose to Rs 84,900 per 10 grams with a jump of Rs 400 to Rs 84,900 per 10 grams. In the last trading session, it closed at a price of Rs 84,500 per 10 grams.

Meanwhile, the price of silver continued to rise in the fifth consecutive trading session and today its price rose by Rs 300 to Rs 96,000 per kg. Whereas in the last trading session it was closed at Rs 95,700 per kg. Meanwhile, gold contracts for April delivery in MCX futures trading rose by Rs 461 or 0.56 percent, reaching Rs 82,765 per 10 grams.

Due to this prices increased

Jatin Trivedi, Vice President of Commodity and Currency Research of LKP Securities, while talking to The Mint on this, said, “Gold prices have increased amazing on MCX.” Investment on gold has gained momentum due to increasing demand for safe investment amidst the possibility of possible trade war 2.0 from the US.

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