New Delhi There has been a big jump in gold-silver prices. For the first time, the price has crossed 50 thousand rupees. At the same time, the price of silver has gone to a seven-year high. Due to this surge in prices, interest in buying these precious metals has reduced considerably. Gold and silver prices continue to rise in the global market including futures.
The price of gold in global markets has reached a nine-year high. On Thursday, the spot price of 24 carat gold in Delhi Bullion Market rose to Rs 50552 per 10 grams. The price of gold is 371 rupees more than yesterday. At the same time, silver became expensive by Rs 1416 per kg and opened at a rate of Rs 60585 per kg.
Futures market also saw rapid growth
On Thursday, gold prices in the futures market rose by 0.12 per cent, or Rs 62, to Rs 50,196 per ten grams. At the same time, silver has fallen by 0.67 percent i.e. Rs 408 to Rs 60,707 per kg. Economic conditions are worsening as the corona virus epidemic increases. Hence, investors are investing in gold for safe investment.
Nine year high in global market
On Thursday, gold has reached a record level of nine years in the global market. On Thursday, the gold spot in the global market rose by 0.1 percent to $ 1872 an ounce. At the same time, Gold Future strengthened 0.2 percent and reached $ 1869.30 an ounce.
Only these people are buying gold
Our partner website zeebiz.com According to, in the times of declining stock market and crisis in the economy, many fund managers increase the share of gold in the portfolio. The biggest reason for this is that gold is considered as a safe investment option. Central banks, fund managers, independent investors etc. All these people are buying gold on different exchanges all over the world. The price of gold is also at a record high in the international market. This is the reason why gold is getting faster in India.
Difficulty in selling one gram of gold
However, retail investors have also faced a lot of problems in selling one gram of gold. At present, the price of gold has increased so much that neither the retail investors are able to sell it nor are they able to buy it. Buyers will have to wait to buy now.
Why gold prices are increasing
According to HDFC Security commodity analyst Tapan Patel, gold prices are rising in the domestic market due to rising prices in the international market. After the arrival of new cases of Karono virus, safe investment purchases on gold have increased rapidly. Investors are investing in gold by withdrawing money from the equity market. However, new investors have increased in equity.
Gold will be cheaper on vaccine arrival
Commodity experts believe that the fall in gold prices is not possible at the moment. Gold prices will come down when the corona virus vaccine will come in the market. Also, its successful results will also be revealed. If India and China do not buy gold, then the price may be lower. Gold can be cheaper from here to 6000 rupees per ten grams.