Gold hits new high, gains Rs 1,130 to touch high of Rs 67,450

Gold prices at record highs: Gold prices hit new all-time highs. Gold jumped by Rs 1,130 to touch a high of Rs 67,450 per 10 grams in the bullion market of Delhi NCR in a single trading session. Gold had closed at Rs 66,320 per 10 grams in the previous trading session. Experts believe that gold may touch a high of Rs 70,000 in 2024.

Gold price rose by Rs 1100 in a single session.

According to HDFC Securities, gold prices rose sharply due to strong global signals. Due to these signals, the price of gold increased by Rs 1130 to reach an all-time high of Rs 67,450 per 10 grams. Silver also saw an increase of Rs 1,100 to close at Rs 77,750 per kg. Silver price was Rs 76,650 per kg in the last trading session.

Support is being gained from purchases by central banks.

The spot price of 24 carat gold was trading at Rs 67,450 per 10 grams in Delhi markets, up by Rs 1,130 from the previous closing price, said Dilip Parmar, research analyst at HDFC Securities. Spot gold prices on Comex have been supported by rising geopolitical risks and purchases by central banks, he said. On the international commodity market Comex, gold was trading at $2,202 an ounce, up $48 from the previous close. Silver prices also rose and was trading at $25.51 per ounce, up from $24.84 per ounce in the previous session.

Gold can reach the level of 70 thousand.

Colin Shah, MD, Kama Jewellery, said that the US Federal Reserve has indicated three rate cuts by the end of this year, which has pushed gold to a new high in the domestic market. After this record increase, the attention of investors will shift towards investing in gold due to which investors believe that gold can cross the mark of 70 thousand rupees this year. However, he said there is a need to be cautious about crude oil prices, which could put pressure on the continued rise in gold prices in the domestic and international markets.

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