look news india
Gold Silver Price: The dollar index has weakened due to the 0.50 percent reduction in interest rates by the US Fed Reserve. As a result, the precious metals market has risen. With the prices of gold and silver reaching record levels globally, prices have also increased at the local level.
In Ahmedabad today, the price of gold was increased by Rs. 500 to Rs. 76400 per 10 grams and silver was also increased by Rs. 76400. 500 rupees. It has reached the level of 88000 per 1 kg. Earlier on July 17, the price of gold had reached 76,700 per 10 grams, while silver also reached a high of 93,500 per kg. Today, globally, gold crossed the $ 2600 level for the first time and reached an all-time high of $ 2640.70 per ounce. Silver was at $ 31.61 per ounce.
Gold and silver also rose on MCX
Gold and silver also saw a slight increase on MCX. Gold futures for October 4 rose by Rs. 488 and closed at Rs. 73926 per 10 grams. While silver futures for December 5 rose by Rs. 432 and closed at Rs. 90400 per kg. One reason for any significant increase in the prices of gold and silver at the domestic level can also be a decrease in consumption.
Trend in gold and silver according to experts
According to bullion experts, the US Fed's decision has boosted the precious metal market. Prices are likely to rise in the near future due to global markets. Due to the rise in gold and silver prices, investors are now booking profits. So they can buy less. On the other hand, there is a lack of demand in the domestic market due to Shraadh Paksha. After the completion of Shraadh, the festive season will start again. Wedding shopping will also increase. As a result, prices may rise at that time.