New Delhi: As the economic recession continues to dominate the world, gold prices are on fire. The price of gold has been increasing since the last one month. Experts say that the price of gold is going to reach a record level this week. In the international market, the price of gold has gone to the peak of almost seven and a half years, due to which, in the Indian futures market, gold is moving towards a new peak.
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On April 7 last week, the price of gold in the domestic futures market jumped by Rs 45,720 per 10 grams, which is the highest level ever. This week gold can break the psychological level of Rs 46,000 per 10 gram and touch new high level. Gold on the international futures market Comex closed at $ 1,752 an ounce after touching a high of $ 1,754.50 an ounce in the last session of last week, the highest level since October 2012.
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Shantibhai Patel, president of the Gems and Jewelery Trade Council of India (GJTCI), says that the global gold market has recorded a boom, due to which the domestic futures market is also faster because the business in the spot market is stagnant. In order to break the chain of infection of Coronavirus, the Central Government has done a complete lockdown of 21 days in the entire country due to which the business is closed in the domestic bullion market, but the business is going on in the futures market.
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