After two consecutive days of decline, gold prices rose in the country’s capital, Delhi. However, the price of gold in Delhi is currently below Rs 1.50 lakh. Even then, the price of gold has recovered from its two-month low. On the other hand, there was no change in silver prices. This is the third day in a row that silver prices have remained flat. According to experts, gold has benefited from value buying due to falling prices. Due to which the price has increased. If the informants are to be believed, the price of gold and silver may fluctuate in the coming days. Let us also tell you what the gold and silver prices have been in Delhi, the capital of the country…

Gold prices rise in Delhi

On Wednesday, gold prices in the national capital recovered from a two-month low and settled at Rs. 700 increased to Rs. 1.49 lakhs per 10 grams. This happened because investors bought at low prices (value buying) amid strong trends in global markets. According to local traders, gold prices of 99.9% purity stopped falling in the last two sessions and settled at Rs. 700 increased to Rs. 1,49,300 (inclusive of all taxes), while on Tuesday it was Rs. 1,48,600 per 10 grams was closed. However, silver prices remained steady at ₹2.32 lakh per kg (including all taxes) for the second consecutive session.

Slight growth in overseas markets

According to Gaurav Garg, head of research at brokerage platform Lemon, gold prices recovered on Wednesday due to value buying by traders after the recent decline. However, fluctuations in the US dollar do not increase prices significantly, Garg said. On the global market, gold was trading marginally higher at $4,190 an ounce, while silver was down 1.28% at $60.68 an ounce.

What do the experts say?

Vedika Narvekar, commodity and currency research analyst at Anand Rathi Share & Stock Brokers Ltd, said gold was around $4,195 an ounce and was on track to close September down more than 5%, reflecting the tug-of-war between supportive factors and persistent challenges. Crude oil prices eased after Saudi Arabia increased supplies through a major pipeline, easing some inflation concerns. Narvekar further said that the ‘Golden Week’ in China starting from Thursday, which generally boosts jewelery demand, may provide some support.