The prices of gold and silver have once again started touching the sky. On Thursday, gold returned to MCX by touching a new all-time high of Rs 61914 per 10 grams. Whereas, bullion closed at Rs 60505 in the markets, which is now Rs 1234 cheaper than its all-time high of Rs 61739.
Talking about silver, it closed at Rs 73392 per kg on MCX. Whereas, at Rs 72855 in bullion markets. According to market experts, gold will set a new record by the end of this year.
Gold and silver have been rising for four days
Silver rates are rising. According to the data given on IBJA, on November 13, 24 carat gold opened at the rate of Rs 59918 per 10 grams and closed at Rs 59678 in the evening.
Similarly, silver opened at Rs 69400 per kg and closed at the same rate. On Thursday, gold closed at 60505 and silver at 72855. If seen from this perspective, in just four days gold became costlier by Rs 613 and silver rose by Rs 3455.
Gold will go to 63000 and silver to 75000: By the end of this year, a big increase can be seen in the prices of gold and silver. According to Ajay Kedia, President of Kedia Advisory, gold can reach 63000 by the end of the year, breaking all previous records, whereas, silver can touch the level of 75000.
Why are gold and silver prices increasing?
According to Kedia, five reasons like weakness in the dollar, fall in US bond yields, geopolitical conflict, ban on increase in interest rates, purchases by central banks around the world and common people are helping the gold rate to rise. On the other hand, 35 lakh marriages in India are enough to increase the shine of gold and silver