After the decline of gold prices in the last few days, now a slight rise is being seen. In the United States, the price of the relief package announced by the Biden administration seems to be going up.
Continuous decline in gold and silver has put some pressure. On Tuesday, a slight increase in their prices was recorded. Gold and silver prices have increased due to the expectations of the American package in the international market. Inflation may increase due to American package. Therefore, investors are hedging by increasing purchases in it. The increase in the price of gold is the result of this.
Gold shines in MCX
In the domestic market, the price of gold in MCX rose by 0.38 percent on Tuesday and rose by Rs 181 to Rs 48,020 per ten grams. At the same time, Silver Future rose by 0.15 percent i.e. Rs 104 to Rs 70,125 per kg. On Monday, gold rose by Rs 94 to reach Rs 46,877 per ten grams in the Delhi market. Silver price rose by Rs 340 to Rs 68,391 per kg.
Gold rose in the global market
Spot gold in Ahmedabad sold for Rs 47,457 per ten grams, while Gold Future sold for Rs 48055 per ten grams. Gold reached a week high on Tuesday in the global market. Spot gold rose 0.6 percent to $ 1841.11 an ounce. In the previous session, it had reached $ 1842.30 an ounce.
On February 3, Gold Future had gained 0.4 per cent and reached $ 1841.70 an ounce. Spot silver gained 1 percent and reached $ 27.53 an ounce. At the same time, the palladium rose 0.4 percent to $ 2339 an ounce.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.