look news india
News India Live, Digital Desk: The decline in gold and silver prices continues in the Indian bullion market. Despite the ongoing global war and inflation concerns, prices of precious metals in the domestic market have fallen for the second consecutive day. There has been increased activity among investors in both MCX and retail markets.
What are today’s latest prices?
According to market experts, the price of 24 carat gold has seen a fall of ₹400 to ₹600 per 10 grams. At the same time, silver prices have also softened by ₹ 1,000 to ₹ 1,500 per kg. Decrease in industrial demand and strengthening of the global dollar index are being considered as the main reasons for this decline.
Why are prices falling amid war and inflation?
Generally, in times of war or economic uncertainty, gold is considered the safest investment and its prices increase. But this time the situation is a little different:
Dollar strength: The dollar index is strengthening in the international market, making it expensive to buy gold against other currencies, resulting in reduced demand.
Profit Booking: Recently, gold prices had touched record levels, after which now big investors are booking their profits and selling.
Fear of interest rates: Indications about the possibility of interest rate cuts by the US Federal Reserve have also made investors cautious.
What is your advice to buyers?
Market experts say that this fall in prices may be short-term. If you are looking to invest for the long term or are planning to buy for a wedding, this ‘dip’ in prices could be a good opportunity. However, before investing, keep an eye on the latest updates of the market.