Gold in the international market rose sharply to $ 1,927 an ounce. The price of silver climbed to $ 23.10 an ounce. Amid strong spot demand, the bookies lived up fresh deals, raising the price of gold in futures trading to Rs 182 to Rs 59,175 per 10 grams on Monday.
Global markets Gold rose to Rs 60,200 per 10 grams on Monday in the national capital’s Share market amid a surge in gold prices. HDFC Securities gave this information. This led to gold closing at Rs 60,020 per 10 grams in the last business session. The price of silver also increased to Rs 400 to Rs 74,400 per kg.
Due to this, the price increased in the domestic market.
Soumil Gandhi, senior analyst at HDFC Securities, said, gold rose on Monday, Where gold spot prices in Delhi rose to ( 24 Karat ) 180 rupees to 60,200 rupees per 10 grams after positive trading in foreign markets.” Gold in the international market rose sharply to $ 1,927 an ounce. The price of silver climbed to $ 23.10 an ounce.
Gold futures prices rise from spot demand
Amid strong spot demand, the bookies lived up fresh deals, raising the price of gold in futures trading to Rs 182 to Rs 59,175 per 10 grams on Monday. In the multi commodity exchange, the contract price supplied in October month increased to Rs 182, 0.31 per cent to Rs 59,175 per 10 grams. It had a turnover of 9,593 lots. Market analysts said gold futures prices were boosted by traders living fresh deals. Globally, gold in New York rose 0.18 percent to $ 1,949.70 an ounce.
Investment in Gold ETF at 16 month High
Gold ETF ( Gold Exchange Traded Fund ) has received an investment of Rs 1,028 crore in August, a 16-month high, amid interest rates continuing to rise in the US. The rise in interest rate in the US has affected the pace of economic growth. According to data from the Association of Mutual Funds in India ( Amphi ), the flow in this category has exceeded Rs 1,400 crore on an annual basis. In addition to the flow in Gold ETF in the reporting period, its asset base and number of investor accounts ( folio ) have also increased. According to the data, Gold ETF invested Rs 1,028 crore in August. Earlier in July, it had an investment of Rs 456 crore. Earlier, the Gold ETF saw an investment of Rs 298 crore during the period April-June after selling three consecutive quarters. Rs 1,243 crore from this category in March quarter,Withdrawal of Rs 320 crore in December quarter and Rs 165 crore in September quarter. Gold ETFs saw the highest monthly flow since April 2022 in August 2023। In April 2022, the Russia-Ukraine war invested Rs 1,100 crore in this category.
