Gold price today: gold becomes expensive, silver prices also rise sharply, know what has become the rate

The domestic bullion market witnessed a sharp trend on Monday.

11th January, 2021

Gold and silver prices recorded an increase on Monday. According to HDFC Securities, gold prices rose by Rs 389 per 10 grams in the national capital on Monday. In this way, the price of gold in Delhi reached Rs 48,866 per 10 grams. In the previous session, the price of gold in the national capital Delhi was Rs 48,477 per 10 grams. According to HDFC Securities, the rise in global prices of precious metals and the fall in the value of the rupee led to the rise in gold prices. Due to these reasons, there was an increase in the price of gold and silver in the futures market as well. 

According to HDFC Securities, silver also recorded an increase of Rs 1,137 per kg in the national capital. In this way the price of silver in Delhi reached Rs 64,726 per kg. At the same time, the price of silver in the previous session was Rs 63,589 per kg.  

It is noteworthy that in the opening trade on Monday, the rupee fell 24 paise to 73.48 against the US dollar in the currency market.  

Internationally, gold was trending at $ 1,853 an ounce. On the other hand, silver remained flat at $ 25.14 an ounce. 

Tapan Patel, Senior Analyst (Commodities) at HDFC Securities, said, "Despite the strengthening of the dollar, gold prices rose on Friday. Due to concerns related to increasing cases of coronavirus, yellow metal saw more buying.

Gold Price in Futures Market

In February, 2021 at 04:34 pm on Multi Commodity Exchange (MCX), the price of delivery gold was rising by Rs 286 i.e. 0.58 per cent to Rs 49,253 per 10 grams. Similarly, the price of gold for April contract was up by Rs 267, ie 0.54 per cent, at Rs 49,279 per 10 grams. 

Silver Futures Price

Silver prices for delivery in May on MCX were ruling at Rs 65,350 per kg, up by Rs 1,119, i.e. 1.74 per cent at 04:39 pm. At the same time, the price of silver in May 2021 contract was trading at Rs 66,316 per kg with a rise of Rs 1,114 i.e. 1.71 per cent.

Category: Business

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Reported by:
Pankaj Prasad