New Delhi: The morning of 22nd August again brought big news for those investing in gold. The rising trend in gold prices continues in the country and the price of 24 carat gold in Delhi has crossed Rs 1.60 lakh per 10 grams. Gold prices have increased in many big cities including Mumbai. Strong trend in the global market and weak US dollar are being considered as the main reasons for this rise.
In the capital Delhi, on the morning of August 22, the price of 24 carat gold increased to Rs 160640 per 10 grams. At the same time, 22 carat gold has reached Rs 147260 per 10 grams. In Mumbai, 24 carat gold is Rs 160490 and 22 carat gold is Rs 147110 per 10 grams. In Kolkata also, the price of 24 carat gold is Rs 160490 per 10 grams, while 22 carat gold is at Rs 147110. In Chennai, Pune and Bengaluru also, the price of 24 carat gold is Rs 160490 per 10 grams and the price of 22 carat gold is Rs 147110.
Gold got support from weak dollar
In the international market, spot gold is trading at the level of $ 4600.91 per ounce. Weakness in the US dollar and increasing demand for precious metals in global markets have strengthened gold. The US Treasury's plan to increase buyback of long-term securities put pressure on bond yields and weakened the dollar. Gold prices directly benefited from this.
US Treasury Secretary Scott Besant has also expressed the possibility of further increasing government repurchase. Just a day ago, gold and silver in Delhi's bullion market had reached their highest level in more than three months. From this, the continuous rise in precious metals can be estimated.
Silver prices also rise
Along with gold, the prices of silver also continue to rise. On the morning of 22 August, the price of silver increased to Rs 260100 per kg. Spot silver in the international market is at $ 69.87 per ounce. Gold and silver prices are not determined only by domestic demand and supply. Movement of dollar in the international market, bond yield, attitude of investors and global economic conditions also affect their prices. In such a situation, global developments may continue to impact the prices of precious metals in the coming days.