Gold prices in India: The Gold price in Delhi increased to Rs 50,194 on Friday while it was Rs 49,812 per 10 gram on Thursday. Just like gold, the price of silver in the national capital increased to Rs 66,526 on Friday while it was from Rs 66, 191 per kilogram on Thursday.
Likewise, the spiraling dollar also led to this hike in the prices of precious metals.
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As per the report, the price of gold witnessed a jump of over 1 percent, a one-month high on Thursday while silver witnessed a hike of 2.6 percent.
According to Reuters, David Meger, director of metals trading at High Ridge Futures said that a combination of an additional stimulus package along with the additional bond-buying and asset purchases from the Fed has driven gold and silver prices to rise.
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Reuters also reported that the lawmakers in the United States were planning to roll out a $900 billion coronavirus relief bill by Friday.
This was in a hope of recovery by keeping the interest rates at bay that led to buoyancy in prices of the gold.
The investments of gold and silver considered as a fence against inflation has increased around 24 percent in 2020 due to the coronavirus-induced lockdown that damaged the economy.
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