Rates Of Gold And Silver Reach Highest Point In This Week, Check Today's Price
On Thursday, a huge surge was recorded in the price of gold and silver. On Thursday, the price of gold was Rs 47,780 per 10 grams while silver traded at Rs 67,203 per kilogram.
Gold Silver Price Today: On Thursday, the futures trading prices of gold and silver in the Multi Commodity Exchange reached its highest level in the week. Gold traded at Rs 47,780 per 10 grams on Thursday, which was Rs. 203 more than the previous day.
Silver futures also recorded its highest level in a week at Rs. 67,203 per kg, an increase of Rs.813 from the previous day.
Silver futures were traded at Rs 66390 in the previous day's session. The price of gold in the international market reached this week's high as the US Federal Reserve Bank did not allow a deadline for the tapering plan. This also indicates that a hike in interest rates is not possible immediately.
Rapid growth in the international market
The price of spot gold in the international market was USD 1815.56 per ounce. One ounce is equal to 28.35 grams. That is, the price of 1-ounce spot gold was equal to about Rs. 135,000. Similarly, the futures trade price of American gold in the international market was USD 1815.30 per ounce. Experts say that the price of spot gold improved compared to the previous day.
The US Federal Bank has not yet cleared the air on economic stimulus, which impacted the price of the US dollar. Earlier, ahead of the US FOMC meeting, traders and investors engaged in cautious buying of gold which impacted its prices as it traded below USD 1800 per ounce.
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