Gold Price Today: Gold Jumps ₹3,000 to ₹1.47 Lakh per 10 Grams in Delhi, Silver Surges ₹5,000

After two days of a downturn in the Delhi gold market, prices have rallied to gain ₹3,000 on Thursday. The price of 99.9% pure gold is currently standing at ₹1,47,500 per 10 grams. The bullish outlook in the international market and weak USD have increased the demand for gold in India. This surge is sure to hit the pockets of wedding-season shoppers.

According to local traders, the closing price of gold on Wednesday was ₹1,44,500 per 10 grams, an increase of ₹3,000 (including taxes). Like gold, silver prices also continued their upward trend. Maintaining its gains for the third consecutive session, silver prices jumped ₹5,000 to close at ₹2,40,000 per kilogram (including taxes). In the previous session, silver had closed at ₹2,35,000 per kilogram. Market analysts believe that while gold demand has improved following the international rally, silver is continuing to strengthen due to industrial and investment demand.

Gold prices in the international markets rose 1 percent, or $38.75, to $4,070.04 per ounce. Silver prices also rose 1.3 percent to $59.89 per ounce. Market analysts say a weak dollar index was a major factor behind this rise. The US dollar weakened following reports that the Bank of Japan had intervened to strengthen the Japanese yen. A weak dollar makes gold cheaper for buyers holding other currencies, boosting global demand and supporting prices.