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Gold Price: Gold prices continue to rise, record rise in prices reduced retail demand for jewellery, gold crossed record Rs 73300 for the first time.

Gold Price Hike: Gold price is making new records every day. On Friday, April 12, gold reached a record high of Rs 73,350 in the bullion market of Delhi NCR. With a jump of Rs 1,050, gold has crossed the level of Rs 73,000 per 10 grams and reached Rs 73,350 per 10 grams. This rise is continuing not only in gold but also in silver. The price of silver has increased by Rs 1,400 and reached a new record high of Rs 86,300 per kg.

The international market is responsible for the rise in gold prices in the domestic market where gold is touching new high levels every day. In the international market, Comex, gold is trading at $ 2,388 an ounce, which is $ 48 more than the previous closing price. On this rise in gold and silver, HDFC Securities Research Analyst Saumil Gandhi said, taking cue from the strong trend in foreign markets, the price of 24 carat gold in Delhi markets was trading at the latest record high of Rs 73,350 per 10 grams. , which is an increase of Rs 1,050 from the previous closing price.

After the tension in West Asia and the possibility of Iran’s retaliation against the Israeli attack on its embassy in Syria, gold is being seen as a safe investment option, due to which its demand has increased, due to which the prices of gold are increasing. Is. In MCX futures trading, gold reached the highest level of Rs 72,828 per 10 grams during the day’s trading.

On the record rise in gold prices, jewelery retail company Senco Senco Gold Limited said that the rise in gold prices due to geopolitical reasons has reduced its demand. The company said that the performance of the jewelery industry in the first quarter depends on the ongoing purchasing trend on the occasion of festivals and New Year. The company said that it has taken several measures to deal with the demand situation through diamond studded gold jewelery and consumer-oriented schemes, but these measures resulted in a 15-20 per cent decline in sales in March and April. Cannot compensate. Suvenkar Sen, MD and CEO of Senco Gold, said, in the last 30 days, gold prices have increased by 10 per cent and in the last six months it has become costlier by 23-25 per cent. Due to this, retail purchase of jewelery has been affected.

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