Silver and Gold Rate: Delhi In the bullion market today, silver prices witnessed a rise for the fourth consecutive day. On Wednesday, silver prices in Delhi rose by Rs 5000 to a new record high of Rs 2,56,000 per kg. All India Bullion Association gave this information. Silver is continuously getting support from demand for safe investment and industrial buying. Traders said rising tensions between the US and Venezuela have boosted demand for safe-haven assets, while supply constraints and strong industrial demand continue to support silver prices.
Silver became costlier by Rs 7000 on Tuesday
On Tuesday, the price of silver closed at Rs 2,51,000 per kg with a bumper rise of Rs 7000 and on Monday its price was Rs 2,44,000 per kg. Meanwhile, the ongoing rise in gold prices for 4 consecutive days stopped today. In the bullion market of Delhi today, the price of gold of 99.9 percent purity closed with a slight fall of Rs 100 at Rs 1,41,400 per 10 grams, whereas in the last trading session, gold of 99.9 percent purity had closed at Rs 1,41,500 per 10 grams.
Big decline is not coming due to geopolitical risk
Saumil Gandhi, Senior Analyst (Commodity), HDFC Securities, said, “Gold prices fell slightly on Wednesday due to profit-booking by investors after the recent rally.” He said that the improvement in the dollar has also affected the gold prices. However, persistent geopolitical risks support demand for precious metals as safe haven investments. This is preventing a sharp decline from happening. In the international market, spot gold fell by $ 45.22, or 1.01 percent, to $ 4449.87 an ounce. Whereas, spot silver fell by $ 2.55 or 3.15 percent to $ 78.69 an ounce.
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