Investment in gold may increase in the coming time. Gold futures on Comex were seen trading at $ 2651 per ounce after going up to $ 2642 and then at $ 2636 per ounce and after going up to $ 30.81, silver was seen trading at $ 31.13 and then at $ 30.78 per ounce.
According to the World Gold Council, the Reserve Bank remains on top in terms of purchasing gold. In the month of October, Reserve Bank of India bought 27 tonnes of gold.
This year the total procurement figure has reached 77 tonnes. Which is the highest. On the other hand, after the news of imposition of emergency in South Korea, inquiries into gold have again increased in the global market as a safe investment.
However, traders are still hesitant due to uncertainty over US interest rates. Due to this, no major bullish or bearish situation was seen in the international and national bullion market.
On Wednesday, gold futures on Comex were seen trading at $ 2624 an ounce and silver futures at $ 30.81 an ounce.
- In the Indian markets too, prices of gold and silver jewelery remained stable due to lack of customer support.
- Parliament in South Korea voted overwhelmingly against martial law, while South Korea’s opposition party has demanded the impeachment of President Yoon Suk-yeol.
- The country is plunged into its worst political crisis since the 1980s. The conditions in this US-backed country will further affect the precious metals market.
- On the other hand, amid the Israel-Hezbollah ceasefire, news of bombings at some places is also increasing uncertainty.
Indore closing prices
- Gold Cadbury Rava was quoted in cash at Rs 78400, Gold (RTGS) 78300 Gold (91.60) and Rs 71600 per ten grams. On Tuesday, gold had closed at Rs 78400.
- Silver Chaurasa was sold in cash at Rs 91600, Silver Chaurasa (RTGS) at Rs 91500, Silver Punch was sold at Rs 91600 per kg and Silver Coin was sold at Rs 1040 per piece. On Tuesday, Silver Chaurasa Cash closed at Rs 91600.
