look news india
The rise in gold and silver prices that was rising for the last three days seems to be stopping due to US inflation remaining under control. As a result, the prices of precious metals remained stable in the local markets as well. However, a slow recovery was seen in the futures market.
In Ahmedabad, 24 carat gold remained unchanged at Rs. 74,200 per 10 grams and 22 carat gold remained unchanged at Rs. 74,000 per 10 grams. Similarly, silver remained stable at Rs. 84,500 per kg. In the global markets on Thursday, gold was recorded at $ 2,518 against $ 2,523 and silver at $ 28.83 per ounce against $ 28.80.
MCX October gold futures up Rs. 262 to Rs. 71,927 per 10 grams. MCX silver up Rs. 712 to Rs. 84,450 per kg. Comex gold was trading at $2,552.80 an ounce with a gain of $10.40 in the international market late Thursday night. Comex silver was trading at $29.17 an ounce, up 24.20 cents. According to bullion analysts, US inflation stood at 0.3% in August, up from 0.2% in July. After these figures came out, traders and investors feel that the Federal Reserve will not take an aggressive stance on the interest rate policy and due to this the market boom has stopped. All eyes will be on the Fed's policy meeting on September 17-18 and the next move of the market will be decided on that basis.