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Gold prices are at record levels.

On Monday, gold prices in the national capital Delhi rose by Rs 1,950 to a new peak of Rs 1,27,950 per 10 grams due to increased demand for safe investments amid the new trade war between America and China. According to All India Bullion Association, gold of 99.9 percent purity closed at Rs 1,26,000 per 10 grams on Friday.

Apart from this, having 99.5 percent purity Sleep It rose by Rs 1,950 to reach an all-time high of Rs 1,27,350 per 10 grams (including all taxes). In the last market session, it had closed at Rs 1,25,400 per 10 grams. According to LKP Securities, gold prices have increased due to the renewed demand for safe investments due to the new trade tension between America and China.

US-China tension

America's announcement of 100 percent duty increase on select Chinese products and China's threat to ban the export of rare earths have increased global uncertainty and risk aversion. Experts believe that gold is strengthening due to increasing demand due to the current tension between America and China.

Silver also made a record

Here, according to the Bullion Association, a tremendous rise was also seen in the prices of silver in the spot markets. On Monday, it jumped by Rs 7,500 to reach a new record high of Rs 1,79,000 per kg (including all taxes). On Friday it closed at Rs 1,71,500 per kg. In international markets, spot gold rose nearly two percent to a new record high of $4,084.99 an ounce.

Festive demand is also the reason

According to HDFC Securities, bullion prices have reached new and record levels, the main reason for which is festive demand. Apart from this, this rise in gold is also coming due to geopolitical tension. Spot silver in foreign markets increased by almost three percent to reach a new record level of $ 51.74 an ounce. On Friday, US President Donald Trump threatened to impose additional tariffs. In response to China's new export controls on rare minerals, 100 percent tariffs will be imposed on Chinese goods from November 1.

Record made in Indore

In Indore bullion market on Monday, the price of gold increased by Rs 2000 per 10 grams and the price of silver by Rs 11 thousand 500 per kg as compared to Saturday. According to traders, gold has reached Rs 129000 per 10 grams and silver has reached Rs 177500 per kilogram.

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