Gold reached beyond 55 thousand, 18 months old record broken
The ongoing war between Russia and Ukraine is affecting the world market. Gold and crude oil have reached record levels on the 14th day of the war. The price of gold has become the highest in 18 months.
Silver prices up 1.8%
On the Multi Commodity Exchange (MCX) on Wednesday morning, the rate of gold has crossed Rs 55 thousand per 10 grams. Silver also saw a rise. April futures gold rate on MCX saw a jump of 1.4 percent. Apart from this, there is a rise of 1.8% in the May futures price of silver.
Gold was at record level in August 2020
Earlier in the trading session, gold had reached a high of 19 months. Gold remained at $2,053.99 an ounce in the international market. Spot silver rose 1 percent to $26.66 an ounce. A year and a half ago, in August 2020, gold had reached a record level of $2,072. At that time, it had climbed to Rs 56,200 per 10 grams in the domestic market.
Latest gold and silver prices
On Wednesday, April futures gold on MCX rose 1.4 percent to Rs 55,190 per 10 grams. On the other hand, May futures silver prices rose 1.8 percent to Rs 72,698 per kg. Experts say that the price of gold may go up further in the coming times due to the Yukrate crisis.
Silver rises by Rs 1000
According to the website www.ibjarates.com, which releases the price of gold and silver in the bullion market, the rate of 24 carat gold reached the level of Rs 54283 per 10 grams on Wednesday morning. The rate of 22 carat gold is running at Rs 54066 per 10 grams. Talking about the price of silver, silver of 999 purity is going up by about Rs 1000 at Rs 71878 per kg.
