Silver prices rise by more than 1400 rupees, is there a chance to earn profit in gold?


New Delhi: On the second trading day of the week, there was a strong rise in gold-silver prices today. Due to an increase in international prices of precious metal, the new rates of Delhi bullion market have come on today. According to HDFC Securities, 10 grams of gold prices rose by Rs 119 in the Delhi bullion market. At the same time, the rise in industrial demand led to a sharp rise in silver prices. The price of one kilogram of silver rose by Rs 1,408.

New Gold Prices (Gold Price on 30th June 2020) – According to HDFC Securities, the price of gold in Delhi bullion market has risen by Rs 119 per 10 grams to Rs 49,306. Earlier on Monday, gold prices had dropped by Rs 26 per 10 grams.

New Silver Prices (Silver Price on 30th June 2020) – However, silver prices were higher than gold. Due to increase in industrial demand, one kg silver jumped by Rs 1,408 to Rs 49,483 in Delhi Bullion Market. Silver business remained flat on Monday. The price of silver was Rs 48,075 per kg. In the international market, gold was at $ 1,773 an ounce and silver was at $ 17.86 an ounce.

The reason for the rise in gold prices- Tapan Patel, Senior Analyst (Commodities), HDFC Securities (HDFC Securities), said that due to weak global cues, investors have increased in gold as a safe haven.

Is gold a chance to make a profit?

Experts say that the International Monetary Fund (IMF) has reduced the forecast of global growth and said that the current epidemic will worsen the condition of economies around the world. According to IMF estimates, in 2020 the global economy will decline by 4.9 percent. This is the reason why the prices of gold are constantly increasing. Looking at the data for the last 10 years, it shows that during this time, there has been very little devaluation in gold. As an asset class, gold funds have neither the risk of default nor the risk of credit. Talking of inflation in the long term, it has been close to 7 to 8 percent and gold has given almost close returns.