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HomeFinanceGold crosses Rs 54,000 mark, silver up by Rs 850: Gold, Silver price update

Gold crosses Rs 54,000 mark, silver up by Rs 850: Gold, Silver price update

Gold and silver, two precious metals, are currently trading at all-time highs.

The price of silver and gold are both experiencing significant price increases right now.The price of one gram of gold has surpassed Rs 54,000, and there are already signs that it may soon surpass all-time highs.Gold is also moving quite quickly on the global market, and silver is trading with a spike of more than 1%.

The gold prices on the Multi Commodity Exchange are moving quickly. It has increased in price by more than 350 rupees. In the MCX’s February contract, the price of 10 grams of gold has increased by Rs 362, or 0.67 percent, to Rs 54212.

The cost of one kilogram of silver has increased by more than Rs 850–900 on the Multi Commodity Exchange. The price of one kilogram of silver for delivery in February has increased by Rs 851, or 1.28 percent, to Rs 67300.This significant rise in silver prices can be attributed to an increase in global industrial demand.

On the global market, gold and silver prices increased.Gold and silver prices are rising on the international market today.Gold is currently selling for $1,820.75 per ounce on Comax, an increase of $11.15, or 0.62%.However, silver is currently trading at $23.485 per ounce on Comax, representing a strength of $0.245 or 1.1%.

As per Dr Ravi Singh, VP, Head of Exploration, Exchanging Methodology Offer India, gold is presently fostering a bullish view. After starting today’s trading near Rs. 53850–53900 per 10 grammes of gold, the price of gold may vary between Rs. 53600–54200.

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