Gold and Silver Price: There is a tremendous jump in the price of gold, it may become more expensive in the coming days
New Delhi. After seeing a steady decline in gold and silver for several days, there was a tremendous jump in gold in the last trading session today. On the fourth day of the trading week i.e. July 1, gold prices registered a significant increase. Gold of 24 and 22 carat became more expensive by more than Rs 400 today. On the other hand, silver prices rose. The price of silver has reached close to Rs 69,000 per kg.
On July 01, gold prices rose by Rs 441. This morning 24-carat gold opened with an increase of Rs 441 per 10 grams. Due to this, the rate of 24-carat gold rose from Rs 46,753 to Rs 47,194 per 10 grams. Talking about the prices of silver, it became expensive by Rs 1135 per kg. Silver prices fell from Rs 67,832 to Rs 68,967 per kg.
Gold will be at peak by the end of the year
Traders of gold believe that the demand for jewelery has come down due to the lockdown. Apart from this, due to the strengthening of the dollar, there is still pressure on gold. That’s why gold is still moving up and down. After July, the demand for gold in the bullion market will increase from August. With this, it can go up to 55 thousand again by the end of the year. That’s why investors need not panic about this fall.
Gold also recovered in the global market
Gold rose to USD 1,775 an ounce today after rising in the Indian market. In the beginning of June, gold was at US$ 1900, which fell to US$ 1760 per ounce. Experts believe that by the end of the year, gold can go up to 2 thousand US dollars per ounce.