As the festival of Diwali approaches, the prices of gold and silver are continuously rising. On Thursday, October 24, the prices of gold and silver have increased further. On MCX, the future prices of gold were trading around Rs 78,042, while the future prices of silver were trading around Rs 97,535. The future prices of gold and silver are rising in the international market.
Gold rate according to IBJA
According to the data of India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold rose by Rs 452 to Rs 78,703 on Wednesday. A day earlier, gold was Rs 78,251 per ten grams.
At the same time, the price of silver also rose by Rs 779 and it is being sold at Rs 99,151 per kg. A day before this, silver was at Rs 98,372. Earlier on October 22, gold and silver had also made an all-time high. So far this month, gold has become costlier by Rs 3,506. On September 30, it was at Rs 75,197.
Gold can reach up to 79 thousand by the end of the year
According to Anuj Gupta, Commodity and Currency Head of HDFC Securities, gold is getting support due to geopolitical tensions and the beginning of the festive season. Due to this, gold and silver may see a rise in the coming days. This year gold can go up to Rs 79 thousand per 10 grams. At the same time, silver can also reach Rs 1 lakh per kilogram.