Gold price rises to INR 34830 to touch record level, silver price falls 140 rupees

Gold at a record level while silver recovers 140 rupees know prices today.

(New Delhi – February 21, 2019): Gold prices jumped by Rs 360 to Rs 34,830 per ten grams in the Delhi Sarafa Bazaar on Thursday. However, the price of Silver fell by Rs. 140 per Kg. Gold prices recovered by Rs 360 to Rs 34,830 per 10 grams in the national capital on Thursday. On the other hand, silver lost Rs 140 to Rs 41,660 per kg.

According to billion traders, improving sentiment in the Sarafa market is due to the purchase of jewelers and retailers. Due to this, gold prices have risen sharply. However, due to weakness in the global markets, there was a break on the speed.

Gold prices jumped by Rs 360 to reach a record level of Rs 34,830 per 10 grams on Thursday in the Delhi Sarafa Bazar on Thursday.

London’s gold price declined by $ 4.08 to $ 1,336.10 an ounce. US gold futures in April also dropped $ 7.00 to $ 1,340.90 per ounce. Market analysts said that the Federal Reserve issued minutes of its meeting on Wednesday in which positives have been shown regarding the US economy and the employment scenario. Minutes of the meeting that was held in January indicate that the increase in interest rates will be announced at least once this year. In this hope, the dollar strengthened its position in the basket of other major currencies in the world, and the glow of yellow metal has faded. In the international market, silver dropped by $ 0.14 to $ 15.90 per ounce.

In India, Gold purchases are also seasonal based on marriage seasons. India is one of the biggest markets for Gold jewelry, coins, and Gold Statues. Gold has been the most preferred source of investment also for Indians since a very long time. However, the modern Indian consumer is increasingly looking at other options for investment. This has led to a decrease in the demand for Gold in the Indian market. As per recent reports, the demand for total Gold bar and Gold coin investment was down 51{3f14c4482d96f96be87c04c45a19a3042e39ce1d6ba6ef8477dea9b04d245214}, and overall consumer demand for gold in India was down 38{3f14c4482d96f96be87c04c45a19a3042e39ce1d6ba6ef8477dea9b04d245214}.