Mumbai
The price of Gold is visible after Israeli’s attack on Iran’s capital Tehran. Gold on MCX has crossed 1 lakh rupees. With this bounce, Gold has made history. The price of gold on MCX has crossed ₹ 1,00,000 per 10 grams for the first time. Gold has taken only 74 days to reach this level.
This is the fastest bounce of the innocent. Gold has given more returns to investors this year, which has proved that Gold is still in trouble. Apart from this, silver price is also making records. Silver price 1 on MCX Lakh is crossing 6 thousand per kg, which was close to 96 thousand days ago.
April 22 records broken again
Earlier on April 22, the gold futures rose by Rs 2,048 to Rs 1,00,000 per 10 grams. Now once again the price of gold has made a new record by crossing this level.
Tension and weak rupee became the reason in the middle East
Experts say that due to the stress between Israel and Iran, the situation has become serious in the middle east. Due to this, global investors have turned to safe investment option i.e. gold. Also, weakness in Indian rupee also became a major cause of boom in gold prices.
At this time the rupee has lost 56 paise to 86.08, which is a huge fall against the dollar.
Gold shines at global level too
Gold is shining not only in India, but also in the global market. Gold futures in the international market rose to $ 41.62 an ounce, or 1.22% to $ 3,444.02 an ounce.
US data and fed policy also factor
According to the expert, the data of America’s producer Price Index (PPI) and core PPI has made it clear that inflation in America is decreasing slightly. With this, investors hope that the American Federal Reserve can make its monetary policy a little easier. It has also affected gold prices.
October delivery gold also on record high
October delivery gold on MCX also rose by Rs 1,970 to Rs 1,01,295 per 10 grams, which is the highest level so far.
Why did the price of gold and silver come so fast?
Geopolitical tension has increased due to Israeli attack on Iran. Due to which investors are now turning to investment in gold. In such a situation, there is a tremendous bounce in the price of gold.
At the same time, the price of crude oil has risen up to 13 percent. Due to which the economic crisis has deepened worldwide. Apart from this, the dollar index is also seen to be weakness.
Most countries of the world have started storing gold again. There is a lot of gold purchases in China and India, due to which the price of gold price has increased.
The purchase option like ETF has intensified, due to which the Gold-Silver Price has been affected.
Gold Price on MCX
Today, gold broke the record on MCX and reached Rs 100154 per 10 grams for 5 August futures. While the price of silver increased by Rs 533 per kg, it reached 1 lakh 6 thousand rupees.
Gold in bullion market
The price of gold is also seen in the bullion market. 24 carat gold is at Rs 97460 per 10 grams in bullion market. The price of 23 carat was Rs 97070 and the price of 22 carat was Rs 89270 per 10 grams. Apart from this, 18 carat gold price was at Rs 73090 per 10 grams. The price of silver is at 1 lakh 6 thousand rupees per kg in the bullion market today.
