New Delhi: The precious yellow metal gold has reached a new high. The rising trend in gold was in place for the last 6 months and now due to the sinking of many big banks in America and Europe and the weakening of the US Dollar, gold has gained momentum. The demand for gold has increased globally for safe investment. For this reason, gold in the global market reached an 11-month high of $1993 per ounce last week, while in the Indian market, it has reached a new high of Rs 59,400 per ten grams.
Whenever the risk increases in the global economy, the shine of gold increases. This is the situation even at present. After the Russia-Ukraine war, the US, Europe, and other countries adopted the path of increasing the interest rates last year to control the inflation of uncontrollable commodities due to speculation and speculation. The risk of recession in the global economy, including the US, is rising. For this reason, gold has started rising because gold is considered the safest investment in the world.
Gold shines more than silver
Gold prices have gained 18% in the last 6 months and are now reaching new heights. Gold has risen by over $300 to $1,993 an ounce in London, while it has gained 18% to Rs 59,400 per ten grams in India from Rs 50,440. Along with gold, there has also been an uptrend in silver. Both the metals rise and fall almost simultaneously. Silver has gained 20% during the last 6 months. In London, where silver has increased from $ 19 to $ 22.75 an ounce, in Mumbai it has increased from Rs 57,000 to Rs 68,650 per kg. Experts say that looking at the kind of situation that has now been created at the global level, there is every possibility of a further rise in gold prices this year. The all-time high in the global market is $2063, which was made on 8 Aug 2020. On that day gold was sold at a record high of Rs 57,400 in Mumbai, which has now crossed Rs 59,000. Now it is expected to cross Rs 65,000 this year. Along with gold, silver is also estimated to reach Rs 73,000 per kg. However, the strength of the rise in silver is less visible.
