Gold Silver Rate Today: On Monday, both gold and silver made new records in terms of price. On MCX, gold for February delivery touched ₹1,35,224 per 10 gram, while silver touched an all-time high of ₹2,13,844 per kg. Amidst the continuous global uncertainties, the inclination of investors has increased towards safe haven i.e. gold, which has provided tremendous support to the prices.
What do today’s latest prices say?
At around 8:45 am on Tuesday, December 23, gold with February futures on MCX was seen trading at ₹ 1,36,780 per 10 grams with a gain of 0.03%. At the same time, there was a slight rise in silver with March expiry and its price reached ₹ 2,12,888 per kg. In the morning trade, gold once again crossed ₹ 1.38 lakh, due to which the movement in the market intensified.
Why is gold continuously becoming expensive?
Experts say that worldwide economic uncertainty, geopolitical tension and fear of inflation are strengthening gold. Investors are withdrawing money from risky markets and investing it in gold. This is the reason why gold is continuously moving towards new heights and further rise can be seen in the coming days.
How far can gold go next?
According to market experts, at present gold has reached the overbought zone. If the price slips below ₹1.34 lakh per 10 grams then profit booking may be seen. On the upside, ₹ 1.37 lakh is considered an important resistance level. If this level is broken then gold can once again set a new record.
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Will the shine continue in silver also?
Talking about silver, there seems to be little chance of the rise in it stopping. Silver is gaining strength due to industrial demand and limited supply. Experts believe that if the current trend continues, silver may also touch higher levels in the coming days.
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