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Gold Rate: The price of gold has once again reached the alltime high. The price of gold rose by Rs 500 to a new record level of Rs 91,250 per 10 grams in the bullion market of Delhi NCR due to continuous purchases by stockists and retailers amidst strong trend abroad. In the last business session, gold was closed at Rs 90750.
The Akhil Bharati Sarafa Association said that the price of gold rose by Rs 500 to a new record level of Rs 91,250 per 10 grams, on Monday 18 March, the price of this valuable metal with 99.9 percent purity rose by Rs 1,300 to Rs 90,750 per 10 grams. Gold with 99.5 percent purity rose by Rs 450 to an all -time high of Rs 90,800 per 10 grams, which had earlier closed at Rs 90,350 per 10 grams in the session.
According to HDFC Securities Senior analyst-Jins Soumil Gandhi, gold was again seen in the international market as well as a new record in the domestic market. “Gold remains an attractive option for safe investment due to the policies of US President Donald Trump, the fears of American recession and geopolitical uncertainty,” he said. In addition, recently weak America’s weak economic data has also emphasized hopes that the US Federal Reserve will cut interest rates this year, which will provide more support to gold.
However, silver prices remained stable at Rs 1,02,500 per kg, which is its historic high. Jatin Trivedi, vice -president of LKP Securities, Jatin Trivedi, said that instability in West Asia, in collaboration with additional economic incentive schemes of China, is further increasing the safe demand for gold. In the global market, gold rose to a new high level of $ 3,028.49 an ounce. Similarly, comex gold futures rose to a record peak of $ 3,037.26 an ounce.
Chintan Mehta, Chief Executive Officer (CEO) of Abans Financial Services Limited, said, “Due to increasing fears of recession in the US economy gold priceI have reached record high, investors are eagerly waiting for the policy decision of the Federal Reserve for further clarity. ”
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