The price of gold in Delhi bullion market on Wednesday closed at Rs 71,950 per 10 grams with a gain of Rs 350. In the previous trading session, gold had closed at Rs 71,600 per 10 grams. Amid indications from domestic demand and global trend, the All India Sarafa Association said that the price of silver closed at Rs 85,600 per kg with a jump of Rs 1,100. Its previous closing price was Rs 84,500 per kg. According to Bhasha news, meanwhile, the price of 99.5 percent purity gold rose by Rs 350 to Rs 71,600 per ten grams. Its previous closing price was Rs 71,250 per 10 grams.

Demand for gold remains high in Indian markets

According to the news, commodity market experts say that the demand for gold remains high in the Indian markets, which is due to the recent reduction in import duty and the upcoming festive season. Chintan Mehta, Chief Executive Officer (CEO) of Abans Holdings, said that participation in gold is increasing. Gold prices may improve as some participation is increasing. We believe that gold prices will rise further. Globally, gold is trading at $ 2,465.50 an ounce, up $ 13.60 an ounce from its previous close in Comex. Silver rose 0.58 percent to $ 28.69 an ounce in the international market Comex.

Gold price in futures trading

Gold prices rose by Rs 603 to Rs 69,213 per 10 grams in futures trading on Wednesday as speculators bought fresh deals amid strong spot demand. The price of the contract for delivery in the month of August in the Multi Commodity Exchange rose by Rs 603 or 0.88 per cent to Rs 69,213 per 10 grams. 320 lots were traded in it. Market analysts said that the strong trend in global markets led to a rise in gold futures prices.

Silver price in futures trading

The price of silver in futures trading on Wednesday rose by Rs 558 to Rs 83,217 per kg as traders increased the size of their deals amid strong spot demand. The price of the contract for delivery in the month of September in the Multi Commodity Exchange rose by Rs 558 or 0.68 per cent to Rs 83,217 per kg. 27,340 lots were traded in it. Market analysts said that the silver futures prices rose as traders bought fresh deals due to the strong trend in the domestic market.