In the country’s futures market, gold prices have crossed a record of Rs 57,000. In the month of January, gold has given a return of about 4 per cent. Silver prices have crossed the level of 68 thousand.
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Gold Price At Record High: Everyone expected that the price of gold would reach beyond 57 thousand after the advance GDP data of US, but on Tuesday itself the price of gold crossed the level of 57 thousand. This is the second consecutive month when the price of gold has seen a rise of about 4 percent. If experts are to be believed, the fall in the dollar index and reduction in the import duty of gold in the budget can be seen in the price of gold. According to experts, positive returns can be seen in the price of gold till May 2023 i.e. Akshay Tritiya. Let us also tell you how much gold has become at present.
Gold crossed 57 thousand rupees
- In the country’s futures market, gold prices have crossed the record level of 57 thousand.
- There is an increase of Rs 255 per ten grams in the price of gold at 1.45 pm.
- Because of which the price of gold in the futures market is at Rs 57,070 per ten grams.
- During the trading session, gold prices reached Rs 57,125 on Tuesday.
- Rs 57,125 per ten grams of gold is the new life time high.
- By the way, today gold had opened in the futures market at Rs 56,986 per ten grams.
- Talking about the returns, gold has given a return of 3.83 per cent in the month of January.
- This is the fourth consecutive month when positive returns have been seen in the price of gold.
- This is the third consecutive month when the gold price has seen a return of more than 3.50 per cent.
- This is the fourth time in the last 10 years that gold prices have shown positive returns for four consecutive months and more than that.
Why is there a boom?
- Gold is getting support due to fall in dollar index.
- At present, the dollar index is down by 0.33 percent at 101.81 points.
- According to experts, the dollar index is expected to fall below 100 points.
- At the same time, the advance GDP data of America is also awaited which can come on 26 January.
- America’s fourth quarter advance GDP figures are expected to come down to 0.26 percent.
- Due to which also a positive note is being seen in the price of gold.
- On the other hand, the US Central Bank Fed has indicated a slight increase in its policy rate, which is also having an effect.
What do experts say?
Ajay Kedia, director of Kedia Advisory According to, due to the continuous fall in the dollar index, there is an upward trend in the price of gold. There are signs of continuing. He told that before the Fed policy, advance figures of US GDP can be seen supporting gold even more. At the same time, the atmosphere of recession and other triggers are also working. Positive returns in gold can be seen till May 2023.