If you invest in gold and silver or are planning to buy in the coming days, then this news is very important for you. In the third week of December, the prices of precious metals have once again seen a rise. While the movement of gold was a little slow this time, silver has surprised investors and made a huge jump of Rs 16,000 in just a week. From the domestic market to the international level, the impact of global signals is clearly visible on both the metals.
Slight but steady rise in gold prices
Gold prices in the country remain strong on a weekly basis. In the last one week, the price of 24 carat gold has increased by Rs 260, while 22 carat gold has become costlier by Rs 250. On December 21, the price of 24 carat gold in the capital Delhi was recorded at Rs 1,34,330 per 10 grams, while 22 carat gold is trading at Rs 1,23,150 per 10 grams.
condition of other cities
In big cities like Mumbai, Chennai and Kolkata, the price of 24 carat gold is Rs 1,34,180 per 10 grams and the price of 22 carat gold is Rs 1,23,000 per 10 grams. Similar rates are being seen in Pune and Bengaluru also. The spot price of gold in the international market remains at $ 4,322.51 an ounce.
Bumper jump in the price of silver
Silver has shown much more strength this week than gold. The price of silver in the domestic market has increased by Rs 16,000 in a week. On December 21, the price of silver reached Rs 2,14,000 per kg. Even in foreign markets, silver is trading strongly at $ 65.85 an ounce. Let us tell you that so far this year, the prices of silver have increased by about 126 percent, which has made it the favorite metal of investors.
What are the reasons behind the rise?
The signals from the US Federal Reserve are considered important behind this rise in precious metals. Fed Governor Christopher Waller has supported further interest rate cuts, although he also said policymakers will proceed with caution. The softening data of the US labor market has also strengthened the expectation of rate cut, which has directly benefited gold and silver.
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