Gold and Silver Rate: Due to decline in demand, there was a slight decline in gold prices on Monday. According to the All India Bullion Association, on Monday, the price of gold of 99.9 percent purity fell by Rs 300 to Rs 1,32,600 per 10 grams in Delhi’s bullion market, which had closed at Rs 1,32,900 per 10 grams on Friday last week. However, silver prices registered a sharp rise even today. On Monday, silver prices in Delhi increased by Rs 1500 to Rs 1,85,000 per kg.
Silver became expensive for the second consecutive day
Silver prices have registered a rise for the second consecutive day today. Last week on Friday, the price of silver had increased and closed at Rs 1,83,500 per kg. Globally, spot gold rose 0.18 percent to $ 4205.26 an ounce. “Spot gold remained largely volatile and traded around 0.20 per cent higher at $4,210 an ounce ahead of the Federal Reserve’s monetary policy meeting on December 10,” said Praveen Singh, Commodity Head, Mirae Asset Sharekhan.
Investment in digital gold is continuously increasing
Inderbir Singh Jolly, CEO of PL Wealth Management, said, “Gold is strengthening its place as a must-have asset class amid global market uncertainty.” He said with central banks maintaining a sustained pace of gold accumulation and investors looking to tackle inflation, gold remains an important diversifier in both institutional and retail portfolios. “We are also seeing continued growth in digital gold investments, reflecting the growing recognition of gold’s role as a strategic long-term asset,” Jolly said.
slight rise in spot silver
Meanwhile, spot silver was trading marginally higher at $58.41 an ounce. On Friday, it rose $2.2 or 3.84 percent to hit an all-time high of $59.33 an ounce and closed at $58.39 an ounce.
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