Gold And Silver Price Update: Investors can benefit a lot during Christmas time. According to estimates, the price of gold can go up to Rs 55,000 per ten gram during Christmas and the price of silver can touch Rs 70,000 per kg.
Gold and silver prices rise
Gold And Silver Price Today: There is still a month left for Christmas and the predictions made by commodity experts are very important for those investing in gold. Commodity experts say that this is the right time to buy Gold and Silver. Investors can benefit greatly during Christmas time. According to estimates, Gold Rate Today 55 Can go up to thousand rupees per ten grams and the price of silver (Silver Price Today) can touch the figure of 70 thousand per kg.
Fed’s decision will have an impact
It has been indicated in the minutes of the US Fed that now there will be less increase in the policy interest rates, due to which the dollar index is seeing a decline and the trend of investors in gold and silver has increased. Experts say that it will be necessary to increase the interest rates in the Fed meeting next month, but it can be reduced from 75 basis points to 35 to 50 basis points. The effect of which can be seen in the dollar index and can come at 103 in the dollar index and it is possible that it may break the level of 103 and come at 100 as well. After which even more increase in the price of gold can be seen.
How much can be gold and silver on Christmas
According to IIFL Vice President Anuj Gupta, an increase in the prices of gold and silver can be seen on Christmas. According to statistics, if the dollar index comes to 100 to 103 level, then the gold price in India can reach the level of Rs 55 thousand per ten grams. That means investors can make profit of Rs 2500-3000 per ten grams from the current level. On the other hand, if the price of silver breaks the level of 64 thousand rupees, then this figure can reach up to 70 thousand by Christmas.
Gold and silver prices rise today
A good rise in the price of gold can be seen on the Indian futures market Multi Commodity Exchange. It is trading at Rs 52,680 per ten gram with a gain of Rs 229 per ten gram at 10.30 am. By the way, today gold opened at Rs 52,500 and was at the day’s high with Rs 52,700. By the way, today gold is trading at the height of the week.
On the other hand, the price of silver is also seeing a rise of more than one percent. On the Multi Commodity Exchange, silver is trading at Rs 62,198 per kg with a gain of Rs 568 per kg at 10.32 am. By the way, today silver opened at Rs 62,099 per kg and reached the day’s high with Rs 62,460 per kg. By the way, today silver is also trading at the high of One Week.
Boom in foreign markets too
There has been a good rise in the price of gold and silver in foreign markets. According to data, gold is trading at a rate of more than $ 10 an ounce in the Comex market of New York and the price is at $ 1,770.60 an ounce. Gold is trading flat in European and British markets. On the other hand, silver is trading at a speed of more than one percent on Comex and the price has reached $ 21.78 per ounce. By the way, silver is doing flat business in Europe and British markets.
Due to these reasons, there is an increase
According to Ajay Kedia, director of Kedia Advisory, apart from the fall in the dollar index, the Fed will keep a hand in interest rates in the next month, the effect of which will be seen in the prices. On the other hand, due to US bond yield going to the lowest level of 7 months, there is a rise in the price of gold and silver. China will also cut its current interest rates. Even though the figures have not been released by China, but the purchase of gold has been done fiercely.