Gold, Silver price update: Gold crosses Rs 54,000 mark, silver up by Rs 850

Today, the price of gold is rising sharply, and the price of silver has also witnessed a significant increase. Gold has surpassed Rs 54,000 for a gram, and there are already indications that it could soon reach an all-time high. Silver is trading with a spike of more than 1 per cent, while gold is also moving quite quickly on the global market.

The Multi Commodity Exchange's gold prices are trading rapidly. Its price of it has increased by more than 350 rupees. The price of 10 grams of gold in the February contract on the MCX has increased by Rs 362, or 0.67 per cent, to Rs 54212.

On the Multi Commodity Exchange, the price of silver has increased by more than Rs 850–900 per kilogram. The price of silver for February delivery has currently increased by Rs 851, or 1.28 per cent, to reach Rs 67300 per kg. A spike in worldwide industrial demand is to blame for this significant increase in silver prices.

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Prices of gold and silver increased on the global market. Today's international market is seeing increases in the price of gold and silver. On Comax, gold is currently selling at $1,820.75 per ounce, up $11.15 or 0.62 per cent. On Comax, however, silver is currently trading at $23.485 per ounce with a strength of $0.245 or 1.01 per cent.

According to Dr Ravi Singh, VP, Head of Research, Trading Strategy Share India, gold is now developing a bullish view. After starting today's trading near Rs. 53850–53900 per 10 grammes of gold, the price of gold may vary between Rs. 53600–54200.