Investment in gold has increased for hedging inflation in the global market, but it is not showing much increase in its price right now.
According to the global trend on Friday, an increase in the prices of gold and silver has been recorded, although this increase was limited. In fact, gold prices are increasing in the US market and because of this, investment in it is decreasing. Nevertheless, on Friday, gold recorded an increase in the global market and its impact was visible on the Indian market as well.
Gold purchases increased for hedging inflation
Currency is being printed at record level all over the world and its effect on inflation will definitely be seen. This is the reason why people are investing in gold for hedging inflation and its prices have started increasing slightly. This trend has had an impact in the domestic market, but it has limited the rise in the price of gold. On Friday, gold in MCX rose 0.05 per cent, ie, just Rs 24 to Rs 46,245 per ten grams, while silver declined and it fell 0.40 per cent, ie Rs 276 to Rs 69,000 per kg.
Gold fell in Delhi market
On Friday, gold reached Rs 46344 per ten gram in Ahmedabad’s spot market, while Gold Future sold at Rs 46268 per ten gram. On Thursday, the price of gold in Delhi market fell by Rs 358 to Rs 45,959 per ten grams, while the price of silver increased 151 rupees to Rs 69,159 per kg.
Slight increase in gold in the global market
In the global market, gold reached a one-week low and rose slightly on Friday. Spot gold recorded an increase of 0.2 per cent and reached $ 1773.06 per dollar. Silver fell 0.2 percent to $ 27.34 an ounce. It has seen a decline in the last few days.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.