Gold Price Today: If there is a wedding in your house and you have not bought jewelry, then hurry up because the price of gold is continuously increasing. Yes… amidst the continuous buying by jewelers, gold has reached a new record level with a rise of Rs 50 in Delhi's bullion market on Friday. This is the third consecutive trading session when gold has seen a rise.

According to the All India Sarafa Association, the price of gold rose by Rs 50 for the third consecutive trading session to a fresh high level of Rs 78,300 per 10 grams. Earlier on Thursday, gold closed at Rs 78,250 per 10 grams. At the same time, due to fresh demand from industrial units and coin manufacturers, silver also jumped by Rs 500 to Rs 94,500 per kg. In the previous trading, it closed at Rs 94,000 per kg.

Why is the price of gold increasing?

Market sources said that gold prices reached an all-time high this year due to increased buying by local jewelers to meet the demand of festivals and weddings and a strong trend in foreign markets. He said that apart from this, bullion prices also rose due to the stance of the US Federal Reserve that they will maintain an aggressive pace of interest rate cuts this year.

Gold prices fall in MCX futures trading

Meanwhile, the price of gold contracts for October delivery fell by Rs 181 to Rs 75,206 per 10 grams in futures trading on the Multi Commodity Exchange (MCX). The price of silver contracts for December delivery fell by Rs 142 to Rs 92,522 per kg. Internationally, gold fell 0.29 percent to $ 2,687.20 an ounce in the commodity market. Silver also fell 0.36 percent to $ 32.23 an ounce globally during Asian trading hours.

Gold futures prices fall on weak spot demand

Amid weak spot demand, speculators reduced the size of their deals, due to which the price of gold in futures trading on Friday fell by Rs 173 to Rs 75,214 per 10 grams. The price of the contract for supply in October at the Multi Commodity Exchange fell by Rs 173 or 0.23 percent to Rs 75,214 per 10 grams. 3,683 lots were traded in it. Market analysts said that gold futures prices fell due to weak trend in global markets. Globally, gold in New York fell by 0.07 percent to $ 2,693 an ounce.