Business / All records were broken, gold crossed 60,000 for the first time, will the price of gold be 65 thousand?

New Delhi. A tremendous rise is being seen in the gold rate on Monday. For the first time in the country, the price of 10 grams of gold has crossed 60 thousand. Today, 24 carat quality gold touched a record level of 60455 in the Indian futures market (MCX Gold Price Today) in intraday. Along with MCX, there is a boom in gold on foreign exchange COMEX as well and the price has reached $ 2000 per ounce. Investors are now buying gold fiercely after the weakness in the US banking sector, heavy selling by investors in the stock market and other commodities. This is the reason that the prices of gold are continuously increasing in the Indian and international markets.

Today, gold on MCX opened at Rs 59,418 in the morning. It started booming as soon as it opened. At one point it jumped Rs 1,037 and started trading at Rs 60,455. Till the time of writing the news, it was trading at Rs 59,807, up by Rs 424 from yesterday's closing price. Earlier, its all-time high on MCX was Rs 58,847 per 10 grams. Along with gold, a rise is also being seen in silver today. Silver Price Today on MCMs reached Rs 69,550 once. Till the time of writing the news, the price of silver was trading at Rs 69052 per kg on MCX, jumping by Rs 551 from yesterday's closing price.

Why did the prices rise

After the sinking of Silicon Valley Bank and Signature Bank in America, the legendary Swiss investment bank Credit Suisse has also been sold. Due to this banking crisis, heavy selling is being seen in the stock markets around the world. If the bond rate is falling in America, then the dollar index is also falling. There is also a possibility of further weakness in the American banking sector. Because of this, investors are investing in gold by selling stocks.

likely to continue

According to a report by cnbcTv 18 Hindi, most brokerage houses say that gold may continue to rise in the coming months. Market experts are likely to keep rising gold prices till June. According to IIFL Securities, the price of gold can reach up to 62 thousand in the coming days. According to Nirmal Bang Brokerage House, the price of gold can be Rs 63000 by June. Kedia Commodity and Axis Securities have estimated that the price of gold can go from 62000 to 62500.