Gold & silver prices rise again in Delhi, gold reaches close to RS 100000

Business News: Gold and silver prices have again seen a rise in the country's capital Delhi. The fluctuation in gold prices continued in the last few days, where gold prices were on a decline on Tuesday, the prices showed strength on Wednesday. Now the question is how close has gold come to the level of one lakh rupees and can it break the record in the coming days?

Rise in gold prices

According to the report of the All India Sarafa Sangh, the price of 10 grams of gold in Delhi on Wednesday increased by Rs 500 to Rs 99,000. This means that gold can now touch the figure of one lakh rupees with an increase of just Rs 1,000. The price of 99.5% purity gold has also reached Rs 98,500 per 10 grams.

Silver price also increased

Along with gold, silver prices also saw a rise. On Wednesday, the price of silver rose by Rs 1,000 to Rs 1,00,000 per kg, while on Tuesday it was Rs 99,000.

Silver prices also rise by Rs 265

Gold and silver prices have also increased well on the Multi Commodity Exchange (MCX). By 6:40 pm, the price of gold rose by Rs 416 to Rs 95,559 per 10 grams, while during the day this price reached Rs 95,860. Silver prices also rise by Rs 265 to Rs 97,740 per kg.

Why are gold prices rising?

Globally, the price of spot gold has risen by $ 23.16 i.e. about 0.7% to $ 3,323.87 per ounce. According to Kotak Securities research expert Kaynat Chainwala, the market is waiting for the results and policy signals of the upcoming meeting of the US Federal Reserve. If the Federal Reserve cuts interest rates, the demand for gold will increase and prices will rise.

Will gold cross Rs 1 lakh soon?

Experts believe that if the Federal Reserve announces a reduction in interest rates, investors will be attracted to gold, due to which the price of gold in Delhi may soon cross Rs 1 lakh. At present, the market's eyes are fixed on this decision.