Gold and silver prices rose on Wednesday. According to the Indian Bullion and Jewelers Association, gold rose by Rs 266 to Rs 48,129 per ten grams in the bullion market. At the same time, gold on the MCX was trading at around Rs 48,192 per ten grams.
As for silver, it rose by Rs 396 to Rs 61,523 per kg in bullion market today. However, silver weakened in the futures market. Silver traded lower by Rs 122 at Rs 61,706 on the MCX at 2 pm.
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Gold was at 1, 1,791 an ounce in international trade. It was close to 1, 1,774 an ounce earlier this month. Silver, however, declined marginally to 22 an ounce. Ajay Kedia, Director, Kedia Commodities, says that inflation is on the rise in the country and in the world. In addition, with the advent of new variants of the Corona ‘Omicron’ in many countries, cases have started to increase again. This will support gold and it could go up to Rs 55,000 per 10 grams in the next one year.
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