Gold and silver prices saw a rise on Monday. 24-carat gold in Delhi became costlier by ₹170, while silver prices also jumped by ₹5000.
Gold prices registered a rise on Monday. During early trade, domestic spot prices were seen trading in the green. According to Good Returns, the price of 24-carat gold in Delhi increased by ₹170.
According to data from Good Returns, at 10:22 AM on Monday, the price of 24-carat gold in Delhi was at ₹1,43,610 per 10 grams, up by ₹170.
Similarly, the rate of 22-carat gold rose by ₹200 to ₹1,31,650 per 10 grams.
Meanwhile, the price of 18-carat gold was trading at ₹1,07,740 per 10 grams, up by ₹120.
Fluctuations in gold prices were also seen in other major cities of the country.
24 Carat: ₹1,43,460, 22 Carat: ₹1,31,500, 18 Carat: ₹1,09,650
24 Carat: ₹1,43,460, 22 Carat: ₹1,31,500, 18 Carat: ₹1,07,590
24 Carat: ₹1,43,460, 22 Carat: ₹1,31,500, 18 Carat: ₹1,07,590
24 Carat: ₹1,43,460, 22 Carat: ₹1,31,500, 18 Carat: ₹1,07,590
Along with gold, domestic spot prices of silver also showed strength.
According to Good Returns, at 10:30 AM, the spot price of silver in Delhi reached ₹2,35,000 per kilogram, with a significant increase of ₹5000.
A rise in gold prices was also seen on the MCX exchange. At 10:40 AM, gold for August 5 delivery was up by 0.27% or ₹383 to ₹1,41,289 per 10 grams.
Meanwhile, silver futures for September 4 delivery were trading at ₹2,18,807 per kilogram, up by 1.11% or ₹2404.
Gold has seen a rally due to value buying following a slight decline in the US dollar.
The US Dollar Index has fallen by 0.21% in the last 5 days. A weaker dollar makes it cheaper for investors holding other currencies to buy gold, which increases demand.
However, with crude oil prices crossing $90, inflation concerns have intensified, which could put pressure on gold.
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