Gold / Silver Price Today: So far this month, gold prices in India have fallen by about Rs 2,500. The fall in prices has attracted retail buyers.
gold became expensive today
Gold/Silver Price Today: After a sharp decline last week, the prices of gold in the Indian markets increased today. On the first trading day of the week, on the Multi Commodity Exchange (MCX) on Monday, the price of gold (Gold Price) 0.40. Trading with a percentage increase. However, there is a decline in silver. The price of silver on MCX has declined by 0.16 percent. On Thursday and Friday, overall gold had declined by Rs 1,600 per 10 grams due to a sharp fall in global rates. At the same time, the price of 10 grams of gold is about Rs 2,500 less than the beginning of this month.
New Gold Price: On Monday, August futures gold on MCX rose by 0.40 per cent, or Rs 183 to Rs 46,882 per 10 grams. In the international market, spot gold prices rose 0.5 per cent to $1,772.34 an ounce today, after falling 6 per cent last week.
New Silver Price: On the other hand, there is weakness in the price of July futures silver on MCX. The price of one kg of silver has fallen by Rs 110 to Rs 67,488. In the international market, silver is trading at $ 25.95 an ounce with a jump of 0.6 percent.
The US Federal Reserve surprised the markets last week by indicating that it would raise interest rates sooner than expected. As a result, the US dollar rose to several-month highs against other major currencies, reducing the appeal of non-interest paying gold.
Meanwhile, the fall in gold prices attracted ETF buyers. The holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, rose 1.1 per cent to 1,053.06 tonnes on Friday from 1,041.99 tonnes on Thursday.
According to Reuters, there has been a slight increase in retail demand in India after the economy reopened along with a fall in prices.
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