Gold made record, crossed 70

Gold made record, crossed 70

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Gold-Silver Price Today: The rally in gold prices before the start of the wedding season in India has increased the problems of the common people. The price of gold has once again made a new record on Thursday. For the first time in the Indian market, gold has taken a big leap and has crossed the record level of 70 thousand. There was an increase of about Rs 400 in the price of ten grams of 24 carat gold. Whereas, the price of one kg silver crossed Rs 80 thousand. According to the Good and Returns website, the price of ten grams of 24 carat gold in Mumbai is Rs 69,880, equal to the prices of Kolkata and Hyderabad. Whereas, the price of ten grams of 24 carat gold in Delhi was Rs 70,030, in Bengaluru Rs 69,880 and in Chennai Rs 70,920.

Gold also rose on MCX

Gold Price MCX: At 11.30 am, the price of 10 grams of gold to be delivered on March 5 has become Rs 70,275. Whereas, there is a relief of Rs 84 per ten grams in the price of gold to be delivered on June 5. It is trading at Rs 69,715. Whereas, the price of gold expiring on August 5 is being sold at Rs 70,030 with an increase of Rs 47. Market analysts said that gold futures prices rose due to buying of fresh deals by traders. Whereas, in the global market, gold rose by 0.50 percent to $ 2,293.20 an ounce in New York.

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What is the reason for the rise in gold?

Amidst geo-political tension, gold is a safe investment for the whole world. Tension is increasing between Iran and Israel in the Middle East. Today a terrorist attack took place on Iran’s border with Pakistan. On the other hand, Israel has attacked Iran’s embassy in Syria. The situation of war between Russia and Ukraine has also become serious. The Central Bank in America has indicated to reduce interest rates. Due to this, bond yields will be affected. Due to this also investors are showing their interest in gold.

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