On the one hand, the stock market and on the other hand, gold and silver are not stopping. The stock market is constantly making new highs, so gold and silver are once again in the mood to rise. Due to this, gold has reached Rs 60,700 per 10 grams in the domestic market. Silver has also reached Rs 77,600 per kg. Let us tell you that gold is at its highest level in the domestic market since June 10. However, despite this, commodity experts are predicting a further rise in both precious metals. Let’s know where the price of gold and silver can go.
Due to this, gold will continue to rise
Anuj Gupta, vice president at IIFL Securities, told India TV that the rise in gold and silver prices is going to continue. In the commodity market, gold rose to a seven-week high as investors weighed on US economic data that could impact inflation, they said. At the same time, it is likely that the country’s major interest rate will peak much earlier than anticipated. Besides, a fall in global bond yields following soft comments by a key European Central Bank official also boosted trading sentiment. In the international market, gold was trading with gains at USD 1,978 per ounce, while silver was quoting higher at USD 25.05 per ounce. It is expected to accelerate further. In the global market, gold can reach $ 2000 to 2030 an ounce.
Gold prices likely to touch Rs 64,000 per litre by Diwali
Expert said that looking at the global market, I estimate that the price of gold in the domestic market can reach Rs 64,000 per 10 grams by Diwali. At the same time, the price of silver can cross 80 thousand rupees per kg. That is, the price of gold and silver is now very unlikely to decrease. He said gold and silver prices will rise in the coming sessions amid weakness in the dollar index and fall in US economic data. Its effect will also be seen in the domestic market.
