New Delhi: Gold rose sharply for the second consecutive day today. According to the Website of the India Bullion and Jewellers Association, gold has gone up by Rs 467 to Rs 46,871 per 10 grams in Sarafa Market today. Silver rose 1,293 rupees, to 60,954 rupees per kilo.
In the futures market, gold on the Multi Commodity Exchange (MCX) is trading at Rs 46,735 with a strength of Rs 97 at 1 pm. Talking about silver, it is trading higher by Rs 562 at Rs 61,001. The brightness of gold and silver has also increased in the global market. In the US, gold has reached US $1,779 an ounce. It was broken earlier this week to reach $1755. Talking about silver, it is trading around $23 an ounce.
Experts say the strengthening of the dollar has put pressure on gold and silver. However, with the rise in crude oil prices, petrol and diesel prices are expected to rise in the coming months. This may lead to inflation. Gold may rise in the long term. According to them, gold prices could reach 50,000 rupees by the end of the year.