According to HDFC Securities, gold prices have been rising steadily for the past 16 days. The bullion market in the capital Delhi has crossed the 57,000 level. So the price of gold in the international market is constantly moving forward by crossing 2000 2000. The price of silver has crossed 77 thousand and is rapidly moving above the level of 80 thousand.
The global economy will take time to improve
Experts believe that the price of gold will set a new record by Diwali. According to JPMorgan, given the current economic, epidemic and political situation, there is a good chance that gold will reach 70,000 by Diwali. He says it will take a long time for the global economy to recover, even if the corona vaccine is introduced. Until then, gold prices will rise.
Gold-silver all-time high in bullion market
Meanwhile, gold is at an all-time high in Delhi’s bullion market on Friday. Gold rose for the 16th consecutive session to an all-time high of Rs 51,008 per 10 grams. So silver prices are rising by Rs 576. It has reached an all-time high of Rs 77,840.
Gold delivery 54 thousand par
Speaking of MCX, gold delivery fell sharply on Friday. Sanu with October delivery closed at Rs 54876, down Rs 969. During trading, it reached the level of 56191 on Friday. Gold for delivery in December fell by Rs 1,075 to close at Rs 54,940 and gold for delivery in February 2021 rose by Rs 907 to close at Rs 57,100.
Silver delivery crossed 74 thousand
Silver also closed lower on Friday at MCX. Silver for September delivery fell by Rs 1,569 to close at Rs 74,483. Silver for December delivery fell by Rs 1,478 to close at Rs 76,448.