Gold and silver prices have registered a steady rise amid fears of a global recession.

Gold Prices Today:

The reason for increasing the risk of recession in developed countries is that the price of gold and silver has increased.

On a weekly basis, gold closed at Rs 60511 per ten grams with a jump of Rs 900 last week.

On the other hand, silver closed at a level of Rs 74570 per kg with a strength of Rs 2352 on a weekly basis.

Gold made an all-time high of Rs 61181 per ten grams during trading on Multi Commodity Exchange.

Silver also touched the highest level of 75175 on MCX during the trading which is a record level of several months.

The price of gold is also getting support from the festive demand. At present, there is a demand for gold all over the world.

Due to the soft stance of the Federal Reserve, the dollar is weakening and the price of gold is increasing.

Central banks around the world are also buying physical gold on a large scale due to the banking crisis.

All these factors including the crisis of global recession are strengthening the price of gold and silver.