New Delhi, 02 January: On the first trading day of the year, gold and silver investors got a sweet gift. Showing a bullish trend in the Indian bullion market, gold was successful in crossing the level of ?55,000 per 10 grams. Similarly, silver also made investors happy today by showing a gain of Rs 435 per kg. In the domestic bullion market today, gold prices rose in different categories ranging from Rs 246 per 10 grams to ?144 per 10 grams.
Last Friday, the last closing price of gold was Rs 54,567 per 10 grams. Today its price rose by ?246 per 10 grams to reach the level of Rs 55,113 per 10 grams. On the basis of the bullish atmosphere created in gold on the first trading day of the year, market experts have started expressing the possibility of gold once again reaching its all-time high. Despite this gradual increase in the price, gold is still trailing at around Rs 1,500 per 10 grams from its all-time high. The highest level of gold so far has been ?56,600 per 10 grams.
According to the Indian Bullion and Jewelers Association (IBJA), the average price of 24 carats (999) of gold rose by Rs 246 to ?55,113 per 10 grams (provisional) in the domestic bullion market today. Similarly, the price of 23-carat (995) gold rose by Rs 245 to ?54,892 per 10 grams (provisional). While the price of jewellery i.e. 22 carats (916) of gold increased by Rs 226 per 10 grams on Monday. With this, 22-carat gold reached the level of ?50,484 per 10 grams (provisional). Apart from this, the gold price of 18 carats (750) rose by ?185 per 10 grams to reach the level of ?41,335 per 10 grams (provisional). 14 carat (585) gold strengthened by Rs 144 to ?32,241 per 10 grams (provisional).
The rise in the price of gold in the bullion market also got full support from silver. In today’s trade, the price of silver (999) rose by Rs 435 per kg. Due to this spurt, the price of the lustrous metal touched a level of Rs 68,527 per kg (provisional).
Market expert Mayank Mohan believes that due to the rise in the dollar index, an atmosphere has been created in favor of gold in the global gold market. In the international market too, the attraction of investors towards gold has increased. This is the reason that on the basis of the prevailing business conditions at the global level, it is expected that the trend of strengthening in the price of gold may continue. Despite the possibility of a boom in the market, at present, small investors should be cautious and complete their investment plan.
