Gold and Silver Price: Silver prices rose by Rs 5,000 to Rs 2.42 lakh per kg in Delhi’s bullion market on Monday due to softening of crude oil prices and weakening of the US dollar, while gold prices rose to Rs 1.53 lakh per 10 grams. According to All India Bullion Association, today the price of silver rose by Rs 5,000 (2.11 percent) to Rs 2,42,000 per kg. On Friday last week, silver prices were Rs 2,37,000 per kg. Along with this, today gold of 99.9 percent purity also increased by Rs 2,300 (1.52 percent) to Rs 1,53,800 per 10 grams. In the last session, it had closed at Rs 1,51,500 per 10 grams.
Traders increased purchases due to falling prices
Experts said that after the recent fall in precious metals, bullion prices have improved due to buying at falling prices. Saumil Gandhi of HDFC Securities said gold prices improved on Monday as traders increased buying at cheaper rates. Gold and silver prices were supported by the weakening of the dollar and fall in crude oil prices. He said the precious metals are expected to remain sensitive to geopolitical developments in West Asia, which will continue to play an important role in determining market direction in the domestic markets.
Gold and silver prices also rise in the international market
In the international market, spot silver today rose 0.5 per cent to $73.37 an ounce and gold rose 0.14 per cent to $4,682.80 an ounce. Praveen Singh of Mirae Asset Sharekhan said spot gold was trading about 0.2 per cent higher at $4,680 an ounce as crude oil prices softened amid concerns over US President Donald Trump’s chances of a ceasefire before an April 7 deadline. However, he said that the rise in gold prices may remain limited due to strong US macroeconomic data.
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