Gold Price Today: After the decrease in inflation rate in the US in October, there has been a tremendous jump in the prices of gold. Due to the tremendous rise in the prices of gold in the international market on Friday, the price of gold in the domestic market has risen by Rs 294 to Rs 52,663 per 10 grams. On Thursday, gold had closed at Rs 52,369 per 10 grams.
If the prices of silver also increased in the international market, the price of silver in the domestic market has risen by Rs 638 to Rs 62,858 per kg. On MCX too, the price of gold for December futures has risen by Rs 254 to Rs 52,363 per 10 grams. Silver for December futures has declined by Rs 117 and is trading at Rs 61,877 per kg.
HDFC Securities Chief Analyst Vijay Rajani said that the price of gold for December futures on MCX crossed the level of Rs 51,100 and it can go up to the level of Rs 52,000 10 grams.
There is a tremendous rise in the prices of gold in the international market and it is trading at $ 1761 per oz while silver is trading at $ 21.89 per oz. Gold has reached the highest level of two and a half months after the reduction in inflation rate in America. It is expected that the Fed Reserve may put the brakes on the increase in interest rates, due to which the commodity market has seen a boom. Experts believe that the prices of gold and silver may see further increase in the coming days.