In the first four days of February, gold rose by Rs 560. Later on Friday alone, it doubled. Today, gold price rose to Rs 4,680 per gram. It remains to be seen whether gold prices will rise in the coming days.
On the 10th of this month, the price of a sovereign rose by Rs 200 to Rs 36,640. Gold prices are also rising in international markets.
The price difference in the international market was also reflected in the domestic market. Troy ounces have risen to $ 1859. The previous day it was priced at $ 1823.28.
Gold prices reflected the US Federal Reserve’s policy of raising interest rates. Rising U.S. Treasury revenues could temporarily hurt gold.
Gold prices hit a one-month low on January 10. The price of a sovereign gold was Rs 35,600. On January 1, the price was Rs 36,360. Then the price fluctuates more or less.
Gold prices have been volatile since early January 2022. Gold prices, which started unchanged earlier this month, have been rising since then. The increase continued for three days in February.
Higher yields on US bonds and higher Treasury yields have weighed on gold prices in recent weeks. Prices in the domestic market also declined sharply due to lower international prices. But Omicron concerns and rising inflation have given gold a slight edge. Observers point out that even if prices fall temporarily, prices may rise.
On December 3, the price of a sovereign gold was Rs 35,560. 4,445 per gram. This was the lowest rate in December. Gold prices were at an all-time high between December 17 and 20. The price of a sovereign gold was Rs 36,560. Gold prices rose by Rs 440 per sovereign in December.
Silver price
There has been an increase in the price of silver in the state. Silver is trading at Rs 67.40 a gram. Eight grams of silver is priced at Rs 539.20. Ten grams of silver is priced at Rs 674 and a kilogram at Rs 67,400. The previous day’s price was Rs 66,800 per kg.