Gold Silver Price: If you invest in gold and silver or are planning to buy in the coming days, then this news is very important for you. There has been a tremendous jump in the prices of precious metals in the third week of December. While the movement of gold remained a little slow, silver surprised investors and jumped by Rs 16 thousand per kg in just a week.
How much did gold become expensive in a week?
There has been a slight but steady increase in the price of gold in the last one week. 24 carat gold has become costlier by about Rs 260 per 10 grams, while the price of 22 carat gold has increased by about Rs 250.
On December 21, 24 carat gold was seen trading at Rs 1,34,330 per 10 grams and 22 carat gold at Rs 1,23,150 per 10 grams in Delhi.
What were the prices of gold in other cities?
Even in big cities like Mumbai, Chennai, Kolkata, Bengaluru and Pune, gold prices have remained at almost the same level. In these cities, 24 carat gold is costing around Rs 1,34,180 and 22 carat gold is costing around Rs 1,23,000 per 10 grams. Even in the international market, the price of gold remains strong and spot gold is trading at around $ 4,322 per ounce.
Silver created panic, jumped by 16 thousand
This week silver overtook gold. The price of silver has increased by Rs 16,000 per kg in the domestic market. On December 21, the price of silver reached Rs 2,14,000 per kg. Silver also looks strong in the international market and its price was recorded at $ 65.85 per ounce. So far this year, a rise of about 126 percent has been seen in silver.
What are the reasons behind increasing prices?
Behind the rise in gold and silver prices US Federal Reserve The signs are considered important. Possibilities of interest rate cuts by Fed officials have provided support to the market. Apart from this, America’s weak labor market data and global uncertainty have also turned investors towards safe options, due to which both gold and silver are shining.
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What should investors do?
If you want to invest for a long time, then in the current situation both gold and silver are considered safe options. However, prices have already gone up significantly, so it is important to keep an eye on market movements before making rash investments. Investing at the right time and with the right strategy can give you good profits.
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