Gold Rate Today: Due to strength in global markets, the price of gold in Delhi's bullion market on Thursday increased by Rs 365 to Rs 91,050 per 10 grams. Earlier on Wednesday, gold closed at Rs 90,685 per 10 grams. At the same time, gold of 99.5% purity also rose by Rs 365 to Rs 90,600 per 10 grams.
Silver prices also increased
Along with gold, silver prices also saw an increase of Rs 200. Now silver has reached Rs 1,01,700 per kg, which was Rs 1,01,500 per kg on Wednesday.
Reasons for rise in prices
According to Saumil Gandhi, Senior Analyst, HDFC Securities, global risk sentiment has increased due to the new vehicle duty announced by the US, due to which the price of gold continued to rise. In the international markets too, gold rose by $ 34.77 to $ 3,054.05 an ounce, which is close to its all-time high.
Jatin Trivedi, research analyst at LKP Securities, said gold prices have reached close to $3,050 per ounce due to the fall in US GDP data and possible new tariffs.
Chintan Mehta, CEO of Abans Financial Services, said central banks are accumulating gold due to growing concerns over US policies and global instability, keeping its demand intact.
What will happen next?
Investors are now eyeing the US personal consumption expenditure (PCE) data to be released on Friday, which will determine the direction of the Federal Reserve's next monetary policy. Apart from this, the market will also keep an eye on the statements of Federal Reserve officials, which may affect future interest rates and financial policies.
