Gold Prices At Record High: Due to strong global signals, gold has again reached a new historical high in the bullion market. In the bullion market of Delhi NCR, the price of gold has increased by Rs 150 and reached the level of Rs 65,150 per 10 grams. On Tuesday, gold closed at the level of Rs 65,000.
Gold at historical high
Senior Commodity Analyst at HDFC Securities, Saumil Gandhi said, the price of 24 carat gold in Delhi market has reached Rs 65,150 per 10 grams. But the price of silver has fallen by Rs 400 to Rs 74,500 per kg. In the international market, gold on Comex is trading at $ 2122 per ounce with a rise of $ 12 per ounce.
Gold will cross Rs 70,000!
The rise in gold prices is not going to stop here. In 2024, gold can touch the level of Rs 70,000 per 10 grams. Colin Shah, MD of Cama Jewellery, said that with the ongoing rise in gold prices, gold can touch the level of Rs 70,000 in the coming days of the current year. This means that from the current level, gold prices may rise by around 7.70 percent. He said that the US Federal Reserve is expressing the possibility of cutting interest rates in the coming days and by the end of this year the interest rate may come down to around 4 percent. He said that due to global economic events and increase in consumption demand, gold prices will remain bright.
He said that with the high consumption in the domestic market too, there will be a huge increase in investment by a large section of the population considering gold as an asset class. Despite the rise in gold prices, the increase in demand will not be affected. According to Colin Shah, due to the impact of consumption, gold prices will remain rising throughout the year.
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