Chandigarh, December 11, 2024 (Navroze Bureau) – Due to the ongoing political instability in South Korea and Syria, a big jump in gold prices is being seen. Since December 5, gold has become expensive by Rs 2500 per 10 grams and its prices in foreign markets have reached the highest level in two weeks. Experts believe that if the current situation remains the same, then gold can soon make new records. However, amid this rise, the strength of the dollar index is proving to be the biggest obstacle in the gold rally. Let us know how much the price of gold is rising at present and how far it can go ahead.
Rise in the price of gold
There is a rise in the price of gold on the Multi Commodity Exchange. According to the data, the price of gold is trading at Rs 78,371, while during the trading session, the price of gold saw a rise of Rs 640 per ten grams and the price reached the day’s high of Rs 78,978. However, on Wednesday, the price of gold opened at Rs 78,400. A day earlier, the price was Rs 78,338.
Increase of 2500 rupees
This is the fourth consecutive day when the price of gold is increasing. About 4 days ago, i.e. on 5 December, the price of gold closed at Rs 76,476. Since then, the price of gold has increased by Rs 2,502. During the trading session, the price of gold reached Rs 78,978. The special thing is that this price is only Rs 1300 less than the lifetime high of gold. On 30 October, gold had set a lifetime high record of Rs 80,282 on MCX.
What is the situation in foreign markets
In the US Comex market, the price of gold futures is trading at $ 2,725.40 per ounce with a gain of $ 7 per ounce. The price of gold spot is at $ 2,688.40 per ounce with a decline of about $ 6 per ounce. In the European market, the price of gold is trading flat at 2,559.18 euros per ounce. Whereas in the British markets, the price of gold is seen trading flat at 2,108.48 pounds per ounce.