Gold at new record of 56,462, costlier by Rs 1,595 in 13 days

The effect of the rise in international gold prices was also seen in the domestic market on Friday. In the local market, the price of pure gold (24 carats) jumped by Rs 365 to reach Rs 56,462 per 10 grams. This is its new record level so far. Earlier on January 9, it had reached a record level of Rs 56,259.
At the same time, the price of jewellery gold (22 carats) jumped by Rs 334 to reach a record level of Rs 51,719 per 10 grams. Earlier on January 9, it had reached a record high of Rs 51,533.
According to the India Bullion and Jewelers Association (IBJ), pure gold has gained Rs 1,595 and jewellery gold by Rs 1,461 in 13 days this year. On December 30 last year, their price was Rs 54,867 and Rs 50,258 per 10 grams. At the same time, the price of gold in the international market has crossed the level of 1900 dollars.
Last year saw a spectacular rise in the prices of gold and silver. This year, gold rose from Rs 48,279 to Rs 54,867 per 10 grams. That is, in 2022, an increase of Rs 6,588 was seen in the price of gold. Whereas in 2022, silver increased from Rs 62,035 to Rs 68,092 per kg. That is, this year its price increased by Rs 6,057.
Amid economic uncertainty, central banks around the world like RBI have increased gold reserves. According to Ajay Kedia, director of Kedia Advisory, increasing the purchase of gold by central banks is a positive sign. This will support gold prices. Ajay Kedia said that in 2023, gold can reach up to Rs 64,000.