Gold rates have again increased. Sabah showed an increase of about 95 points in Gold Price Today, which reached 153 points by noon. With this, gold has also crossed the 49 thousand level by noon.
New Delhi, on the
one hand, where the stock market showed an increase, on the other hand, gold in the futures market also shone a lot. In the morning trading on the first day of the new trading week, Gold Rate showed an increase of about 95 points, which reached 153 points by noon. With this, the gold price of 5 August delivery (Gold Price Today) reached the level of 49,016, crossing the level of 49 thousand by noon. There was a time in the business till noon when gold touched the highest level of 49,088 and the lowest level of 48,935.
These were the prices on Friday
Gold prices in the futures market rose by Rs 47 to Rs 48,925 per 10 grams on Friday, as speculators increased deals in the spot market amid strong demand globally. On the Multi Commodity Exchange, for the month of August, gold had gained Rs 47, or 0.1 percent, to Rs 48,925 per 10 grams. It traded for 10,087 lots. According to analysts, with the increase in spot demand, mainly due to an increase in participants’ deal, gold prices rose. Globally, gold rose 0.27 percent to $ 1,808.60 an ounce in New York.
These were the prices on Friday in the bullion market
On Friday, gold closed marginally higher at Rs 49,959 per 10 grams in the Delhi Bullion Market. On Thursday, gold had closed at Rs 49,951 per 10 grams. At the same time, silver fell by Rs 352 to close at Rs 52,364 per kg, which was Rs 52,716 per kg on Thursday. In the international market, gold remained unchanged at $ 1,800 an ounce and silver at $ 18.60 an ounce. HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold prices have declined following the recent spurt in technology.”
Gold increased by 25 percent this year
Earlier this year, gold was at Rs 39 thousand per 10 grams, which has so far crossed the record level of 49,500. Currently, gold is moving around 49 thousand levels in the futures market. So far this year, the price of gold has increased by 25 percent.
Investments made in golf ETFs
Gold Exchange Traded Fund (ETF) has a net investment of Rs 3,500 crore in the first half of the current year 2020. In the midst of the Kovid-19 crisis, investors are shifting their exposure to riskier assets to safer investment options, which has led to the attractiveness of gold ETFs. This led to a withdrawal of Rs 160 crore from gold ETFs by investors during the same half-year of the previous year ie January-June, 2019. This category has performed well for the last year. According to the data, the net investment of Rs 3,723 crore has come in Gold ETFs since August 2019. Gold ETFs got a net investment of Rs 3,530 crore for the half-year ended June 30 this year.