Gold rate today: gold price ris 17th december bullion market latest update – gold price today: increase in gold price, know today’s price

Even today, due to strong global cues in gold and silver prices, the bullion market has seen an increase (Gold Price Rise). Today, the price of gold has seen a rise of Rs 194, after which gold has now reached the level of Rs 49,455 per 10 gram (Gold Price Today). HDFC Securities has given this information. In the previous session, gold had closed at the level of Rs 49,261 per 10 grams. Today, silver price rises have also been seen. Silver has risen by about Rs 1184 to Rs 66,969 per kg (Silver Price Today). Silver had closed at Rs 65,785 per kg in the previous session.

Gold and silver were expensive even yesterday

On Wednesday, there was an increase in gold and silver prices (Gold Price Rise). The price of gold rose by Rs 215, after which gold now reached the level of Rs 49,059 per 10 gram (Gold Price Today). At the same time, silver rose by about Rs 1185 to reach the level of Rs 64,822 per kg (Silver Price Today).

Gold price in the futures market

Due to strong spot demand, speculators bought fresh deals, leading to a rise of Rs 340 to Rs 49,937 per 010 gram in futures trading on Thursday. On the Multi Commodity Exchange, gold futures delivered in the month of February 2021 rose by Rs 340, or 0.69 per cent, to Rs 49,937 per 10 grams. It traded for 11,374 lots. Market analysts said fresh buying by traders led to rise in gold futures. In the international market, New York, gold gained 1.01 percent to $ 1,877.80 an ounce.

Silver price in futures market

Silver futures rose by Rs 1,679 to Rs 67,590 per kg on Thursday in the futures market due to strong spot demand by traders increasing the size of their deals. At the Multi Commodity Exchange, silver for delivery in the month of March 2021 rose by Rs 1,679, or 2.55 per cent, to Rs 67,590 per kg with a turnover of 15,338 lots. Market analysts said the main reason for the rise in silver futures was the buying of fresh deals by traders due to the strong domestic market trend. Globally, silver was up 3.37 percent at $ 25.90 an ounce in New York.

See how much gold and silver fell from the all-time high

August 7, 2020, was the day when gold and silver created a new record. Both gold and silver touched their all-time highs. On August 7, gold touched an all-time high of Rs 56,200 per 10 grams, while silver touched Rs 77,840 per kg. Gold has so far fallen by around Rs 6700 per 10 grams, while silver has fallen by about Rs 10,800 per kg.

Why is gold falling?

Positive news on the vaccine front to tackle the Kovid-19 epidemic is leading to a fall in gold prices. Experts say that due to improvement in global economy and easing tension between US-China, investors are leaving the stock market instead of gold. This is the reason why a huge surge in gold prices is unlikely in the near future. However, gold is still considered a good investment option for the long term.

Will Sona return to the pre-Corona period?

Due to Corona virus, there was a sharp decline in the stock market. With the passage of time, the stock market is constantly recovering from that sharp decline. Most of the stock markets around the world are recovering from the downfall caused by the corona, while on the other hand, gold (today gold price) has returned to touch its all-time high. There are fluctuations in gold prices in the coming days. Now the question arises whether gold will also return to the pre-corona period, because the trend has been seen that if the stock market is strong then gold is weak and vice versa. So will gold still be cheaper, because the Sensex was close to 41 thousand in January, then the price of gold was also close to 41 thousand.

Gold can go up to 67 thousand rupees

67-

According to Motilal Oswal Financial Services, gold prices can go up to Rs 65-67 thousand per ten grams in the long term. The firm’s report said that demand for gold is likely to increase back in the fourth quarter after falling 30 percent in the third quarter, as jewelery purchases will pick up during this period. The report predicts that the coming months after the US election will be crucial to fixing the price of gold and that central banks’ stance, low interest rates, the impact of the Kovid-19 epidemic and other concerns may affect prices during this period. However, the prospects for bullion are good.

Gold became a boon during the Corona era

Gold is an asset to be used in deep crisis, this assumption is once again being proved right in the current difficult global conditions. Between the Kovid-19 epidemic and the geopolitical crisis, gold is again setting a record and has proved to be a better investment option for investors than other assets. Analysts believe that gold will remain high for at least one-and-a-half years amid fluctuations. Vimal Goyal, president of Delhi Bullion and Jewelers Welfare Association, believes that gold will remain at a high level for at least a year. He says that gold is a ‘boon’ for investors at this time of crisis. Goyal believes that around Diwali, gold may rise by 10 to 15 percent.

The glow of gold has always increased in times of trouble!

Gold has always shone brightly in times of trouble. In 1979, many wars took place and gold had jumped about 120 percent that year. Most recently, in 2014, even though the threat of America was looming over Syria, the price of gold had started touching the sky. However, later it returned to its old standard. Gold prices rose even when US tensions with Iran increased or when there was a Sino-US trade war.

Watch this video too

Keep these three things in mind when buying a gold bar!

Source