Silver reaches all time high, gold also above 61,500
The rise in the prices of gold and silver is showing no signs of decline. On Thursday, gold had gone to an all time high level. Now today the price of silver has created a new all-time high level. In early trade on Friday, gold for delivery on June 5 was seen trading at Rs 61,502 per 10 grams on the MCX exchange. In early trade, the futures price of gold went up to Rs 61,629. On Thursday, the domestic futures price of gold had gone up to Rs 61,845 per 10 grams. This is the life time high level of gold. Along with gold, a bumper boom is also being seen in the prices of silver. Silver futures made a new lifetime high today.
Why are prices rising?
The rise in the prices of gold and silver is directly related to America. This is the effect of increasing interest rates in US. The US Central Bank had increased the key interest rate by 0.25 percent on Wednesday night. Due to this, there is a jump in the prices of gold. At the same time, due to the increasing banking crisis in America, the US dollar is seeing a decline. This is giving strength to the rise in the prices of gold and silver.
Silver made new life time high
The domestic futures prices of silver made a fresh lifetime high on Friday. Silver for delivery on July 5 on MCX is trading with a good gain since morning. It went up to Rs 78,292 per kg during the business. This is its new all time high level.
