There was a reversal in the gold and silver market on Tuesday. Amid rising demand for safe haven investments and geopolitical tensions, gold prices bounced back, while silver prices turned negative. Investors’ eyes are on today’s latest rates in Delhi, Mumbai and other major cities.
On the morning of March 12, the price of 24 carat gold in Delhi reached Rs 1,63,470 per 10 grams, while in Mumbai the price of 24 carat gold is Rs 1,63,320 per 10 grams. Compared to the previous day, gold price in Delhi increased by Rs 900 or 0.54 percent. The price of 22 carat gold has also increased to Rs 1,49,860 per 10 grams in Delhi and Rs 1,49,710 per 10 grams in Mumbai.
- Price of 24 carat gold – Rs 1,63,470
- Price of 22 carat gold – Rs 1,49,860
- Price of 18 carat gold – Rs 1,22,602
Investors are again attracted towards gold as a safe investment. In the international market, spot gold is trading at $ 5,189.05 per ounce. Experts say that the demand for gold has increased due to the global crisis and uncertainty of war.
Iran-Israel dispute increased pressure
US and Israeli military actions in the Middle East, and Iran’s retaliation, have created fear and uncertainty among investors. US President Donald Trump said that there is almost nothing left to attack in Iran and the war could end soon. At the same time, Israeli Defense Minister Israel Katz said that his country’s fight will continue until a decisive victory is achieved. Experts say that due to geopolitical tensions like war, investors rush towards safe assets like gold, due to which gold prices are increasing.
Silver falls, investors need to be cautious
At the same time, silver prices appeared weak. In Delhi, on the morning of March 12, silver was trading at Rs 2,89,900 per kg. A day earlier it had fallen by Rs 4,275 or 1.53 percent to Rs 2,75,000 per kg. The spot price of silver in the international market is $ 86.69 per ounce. In January, silver had crossed the mark of Rs 4 lakh, but now it has come down again.
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