Gold and silver prices will not stop rising! Silver to touch Rs 82,000 and gold to stop here – India TV Hindi

Gold and Silver Price - India TV Paisa

Image: File Price of gold and silver

Price of gold and silver A record high has been reached. After this, many are now expecting the prices of both the precious metals to fall. However, that is not going to happen. The upward trend in gold and silver prices will continue. Let us tell you that the gold futures price in the international market increased by 9.9% in the last three weeks from 2,170 dollars per ounce to 2,384 dollars per ounce amid the growing geopolitical crisis in the United States and interest rate cut expectations. Meanwhile, silver futures have fared better, gaining 16 percent over the same period. The reason for the increase in gold and silver prices is also the massive buying by central banks around the world. China’s PBOC (Public Bank of China) bought gold for the 17th month in a row in March. Meanwhile, many of the world’s central banks increased their gold reserves for the ninth consecutive month in February. Central banks, particularly the PBOC, buying gold is a major factor supporting the rally.

How far can the price of gold and silver go?

MCX gold futures have touched new highs and gained 8.5% in the last 9 trading sessions. The chart shows that some further consolidation is likely, as the technical indicators are in the overboot zone. Gold has gained nearly 15 percent since the end of February 2024, hitting lifetime highs during that period. Touching on, the gold price can see a further increase of 5%. The price of gold may increase up to 75 thousand rupees. Along with this, silver may rise by 2.5% to Rs 85,000. These signals are coming from the charge.

Gold Rs 72000, silver new record

Gold and silver prices hit yet another record high at the national capital’s bullion market on Wednesday amid a strong trend in global markets. Gold reached the level of 72 thousand rupees per 10 grams for the first time. Silver also rose by Rs 200 to hit a fresh high of Rs 84,700 per kg. Navneet Damani, Senior Vice President, Commodity Research, Motilal Oswal Financial Services said, “Gold and silver are at all-time highs due to geopolitical tensions and US Consumer Price Index-based inflation and interest rate forecasts for March. Hovering at the highest level.” The gold is intact. Amid further indications that gold remains in demand as a safe haven, demand as a safe haven investment,” he said, adding that with the US Consumer Price Index (CPI) Details of the Federal Reserve’s March meeting will also be released later on Wednesday

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