Gold prices hit a new all-time high, rising by Rs 800 to touch Rs 65,000.

Gold prices at record highs: Gold in the domestic market has reached a new historical level due to the sharp increase in the price of gold in the international market. Gold rose by Rs 800 to touch Rs 65,000 per 10 gram for the first time in Delhi NCR’s bullion market. While gold closed at Rs 64,200 per 10 grams in its first trading session.

Gold at a high of Rs.65,000

HDFC Securities Senior Commodity Analyst Somal Gandhi said 24-carat gold prices touched Rs 65,000 per 10 grams in Delhi’s bullion market, up by Rs 800 from the previous session. Silver also rose in luster and rose by Rs 900 to Rs 74,900 per kg from Rs 74,000 per kg in the previous session.

Prices increased due to the fall in interest rates.

In the international market, gold is trading at $2,110 per ounce on Comex commodity market, which is one percent higher than the previous trading session. In fact, it is being speculated that the US central bank may cut interest rates in the coming days. Earlier, there were signs of decline in the month of March, but now the gold prices are seeing an increase due to speculations of interest rate cut by the US Federal Reserve in the month of June. In the last three trading sessions, gold prices have risen by over Rs 2,400 on the MCX. Gold closed at Rs 64,791, up 0.51 per cent or Rs 329 at the Multi Commodity Exchange.

The effect is visible in the local market.

In the last few days, the price of gold has seen a huge increase. Gold averaged Rs 62,000 in the month of February. But in the first week of March, there was a sudden increase in gold prices in the international market, the effect of which is being seen in the local market as well.

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