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New Delhi: The prices of gold and silver witnessed a rise in the Asian and international markets on Monday. After the military action taken by the US in Venezuela, investors started turning to safe assets. Spot gold rose to $4,418.3 per ounce, while US gold futures were trading at $4381.10 per ounce for March delivery. The price of silver also increased to $74.32 per ounce. Global uncertainties and geopolitical events have increased the demand for precious metals.
In the US Comex market, 24-carat gold was trading at $4418 per ounce with a rise of 2.05 percent. Gold futures March delivery reached $4381.10. This rise in gold has come due to the demand for safe investment and global geopolitical tensions. The price of gold has risen steadily in the last one year and it remains a major safe asset for investors.
The price of silver is also showing a rise. 999 fine silver prices have risen by 2.4 percent to 74.32 US dollars per ounce. It was trading at $2209.60 per ounce with an increase of 3.1 percent in Platinum Futures. Ongoing tensions between Russia and Ukraine, industrial demand and investors' quest to secure assets are pushing silver prices up.
Today, January 5, 24 karat gold is trading at Rs 1,37,800 per 10 grams, while the price of 22 carat is Rs 1,26,317 per 10 grams. In the last one year, the price of gold has seen a rise of 77.65 percent. This boom is mainly due to the policies of the Federal Reserve and global uncertainties.
Silver has reached 999 fine Rs 2,43,230 per kg, while the price of 925 sterling silver is Rs 2,24,988 per kg. The price of silver has seen a rise of 2.71 percent in one day. The ongoing tension between Russia and Ukraine in the international market has increased the demand for silver. Silver prices have continued to rise due to industrial use and investment.
In the last one year, the price of gold has increased by 77.65 percent, while the price of silver is also showing a rise. At the beginning of the year, both precious metals remain safe options for investors. Especially when there is volatility in the global market, investors are preferring to invest money in gold and silver.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold, silver and crypto assets.)
