Gold-Silver Price: Business closed on Holi, but gold and silver prices continue to rise, silver can reach Rs 3.5 lakh

Gold-Silver Price 3 March: On Tuesday, gold prices continued to rise for the fifth consecutive day, the main reason for which is said to be the increasing geopolitical tension between America and Iran. At such times, investors prefer to invest in precious metals like gold and silver to avoid uncertainty. There was a rise in the prices of gold and silver in the international market on Tuesday morning.

By around 10 am, the price of gold rose by US $ 46 to US $ 5,367.74 an ounce. This figure is the highest level since January 30, although gold is currently about $ 220 less than its record high of US $ 5,595.46.

Morning session closed in futures trading

The price of silver also increased and it rose by US $ 1.7 or 1.9% to US $ 91.04 an ounce. There will be no trading in the morning session in gold and silver futures trading on the Multi Commodity Exchange (MCX) on the occasion of Holi. Trading on MCX will resume in the evening session.

Gold price in major cities of the country

Silver can cross Rs 3.5 lakh

Ajay Kedia, founder and director of Kedia Advisory, estimates that the price of silver may go up to Rs 3,50,000 per kg in the future. At the same time, the price of gold may see a further increase of about 14% from the current level. Apart from this, gold may show a gain of more than 10% based on the record high of US$ 5,595.46. According to him, the price of 1 kg gold can reach around Rs 1,90,000 per gram in the coming time.

Also read: Iran’s threat to close the Strait of Hormuz… Announcement of setting ships on fire, shadow of oil crisis on the world

Gold and silver remain safe options for investors at this time, especially when political tensions and uncertainties are increasing in the global market. International and domestic markets are witnessing a sharp increase in investor interest, and this trend is likely to continue in the next few days.