Gold Prices: Increased brightness of gold, gold price reached the highest level of 9 months

Gold Prices At New High: Due to the decrease in the dollar index, there has been a tremendous rise in the prices of gold. The price of gold (MCX Gold) on MCX has reached a 9-month high of Rs 54,745 per 10 grams. At the same time, the prices of silver have increased by 2.3 percent and the price has reached Rs 69,065 per kg.

After the change in the policy of Japan’s Bank of Japan, there was a decline in the dollar index and it has reached 103.66. There has been a strengthening in the yen. The Bank of Japan has said that it will allow the benchmark bond yield to rise. After which the spot gold price has increased by 1.1 percent to reach $ 1806.34 per ounce. At the same time, the price of silver increased by 3.3 percent to $ 23.71 an ounce.

At the same time, gold rose by Rs 38 to Rs 54,740 per 10 grams in the Delhi bullion market. In the previous session, the price of gold had closed at Rs 54,702 per 10 grams. However, the price of silver declined by Rs 328 to Rs 67,984 per kg.

Navneet Damani, Senior Vice President, Commodity Research, Motilal Oswal Financial Services, said, “Gold prices traded stable after declining in early trade amid the possibility of further hike in interest rates. Businessmen are keeping an eye on the situation of Kovid in China.

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Dilip Parmar, Research Analyst, HDFC Securities said, Gold prices remained stable in Asian trade. The spot price of gold in Comex remained unchanged at $1,794 an ounce.

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