Gold and Silver: After the budget (Budget 2024) of Finance Minister Nirmala Sitharaman, there was a big drop in the prices of gold and silver. Due to this, those who wanted to buy gold felt that now is the right time to buy gold. But, after a few days of sluggishness, gold has started making long jumps again. On Tuesday, gold made a record-breaking jump and registered a gain of Rs 1400 in a single day. Gold has registered the highest jump in a month. A huge increase of Rs 3100 has also been registered in the rate of silver.
The price of gold increased by Rs 1400 and silver by Rs 3150
Due to global demand, the price of gold in the bullion market of the national capital Delhi on Tuesday rose by Rs 1,400 to Rs 74,150 per 10 grams. In the last trading session on Friday, gold closed at Rs 72,750 per 10 grams. The price of silver also rose by Rs 3,150 to close at Rs 87,150 per kg while its previous closing price was Rs 84,000 per kg.
After the announcement of reduction in import duty, prices were continuously decreasing
The prices of this yellow metal were continuously declining after Finance Minister Nirmala Sitharaman announced a cut in import duty on gold in the budget for the financial year 2024-25. The price of gold fell by Rs 3,350 to Rs 72,300 per 10 grams on July 23. Meanwhile, gold of 99.9 per cent and 99.5 per cent purity in Delhi closed at Rs 74,150 and Rs 73,800 per 10 grams respectively, up by Rs 1400 from their previous closing price.
Jewellery sellers are seeing a sharp rise due to the increasing demand
Traders attributed the rise in gold prices to increased demand from local jewelers as well as strong global trends. Globally, gold was trading at $ 2,560.10 an ounce, up $ 18.80 an ounce. Silver prices in the international market were also up at $ 30.19 an ounce.
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