Intraday Gold Prices Rise to Historically High Levels
Gold prices have surged to all-time highs, with 999 purity gold reaching Rs. 166,469 per 10 grams, a significant increase from the previous close. Silver prices have also seen a notable rise, reflecting robust demand in the market.
Highlights
- •999 purity gold price hits all-time high at Rs. 166,469 per 10 grams
- •Silver prices have increased by Rs. 20,000 to Rs. 2.87 lakh per kilogram
- •Gold futures on MCX have increased by Rs. 3,397 to Rs. 1,65,501 per 10 grams
- •24-carat gold in Delhi now sells for Rs. 167,740 per 10 grams, an increase of Rs. 5,850 from the previous day
Gold and silver prices in the Indian market continue their upward trajectory as they have shown no signs of slowing down. Today's March 2nd release by the Indian Bank for Gold and Jewellers Association (IBJA) has seen significant price increases across various gold purity levels.
The price of 999 purity gold, currently the highest purity, opened at Rs. 166,469 per 10 grams, up by ₹7,372 from Friday's closing price, setting it at its highest point since Rs. 176,121. This price remains within 9,652 Rs. of its all-time high, indicating strong buying sentiment in the market.
Simultaneously, silver prices have also seen a substantial leap, increasing by Rs. 20,000 to Rs. 2.87 lakh for one kilogram. The rise has also been reflected in Mumbai and Delhi, where 24-carat gold rates have risen by Rs. 5,850 and Rs. 5,840 respectively. In Kolkata, the price has risen by Rs. 5,830, while Chennai has seen a rise of Rs. 5,970 and Lucknow by Rs. 4,940.
Following this pattern, the MCX gold futures for the April contract have also experienced a surge, up by Rs. 3,397 to Rs. 1,65,501 per 10 grams, marking a 2.09% increase from Friday's closing price. This highlights the positive outlook for investors and traders interested in the gold investment market.
