look news india
The US labor market is weakening from its peak and the unemployment level in the US is rising. The bullion market has started to correct as the jobless numbers have reached their highest level since the end of 2021.
The result was that there was a slow but steady increase in the prices of gold and silver at the local level as well. In Ahmedabad, 24 carat gold per 10 grams was increased by Rs. 500. It reached the level of 74,200. Similarly, 22 carat gold was increased by Rs. 74,000 per 10 grams. Silver per kg was increased by Rs. 500. It reached 90,000. In the global market, gold rose by $21 to reach $2335 an ounce. Silver rose by 48 cents to $29.38. Late Friday evening, gold was trading at $2349.50 with a gain of $12.90 on Comex. Silver was trading at $29.76 on Comex, up 50.90 cents. According to bullion experts, the US economy does not seem to be stabilizing from the upcoming data. Investors are keeping an eye on how the inflation figures come. Anticipation of whether the Federal Reserve will cut interest rates soon or not will determine the market's next move accordingly.
