look news india
Economic instability in the US has not decreased and the fear of rising inflation has led to a new round of boom in the global bullion market. As a result, gold and silver prices are also rising at the local level. Gold prices in Ahmedabad have increased by Rs 1,100 per 10 grams during the last two days. While the price of silver remained stable for three days this week on Thursday. An increase of 1500 per kg was made. In Ahmedabad, 24 carat gold per 10 grams was increased by Rs 500. It reached the level of 75,700. Similarly, 22 carat gold was made Rs 74,400. On Thursday, silver was made Rs 1,500 to Rs 85,500. In the international market, gold was trading at $ 2389.60 per ounce two days ago. Globally, silver was trading at $ 29.76, up from $ 28.40.
According to bullion experts, data from the US Bureau of Labor Statistics has strengthened the possibility of interest rate cuts by the Federal Reserve amid fears of rising inflationary pressures. As a result, investment in gold has resumed. However, some profit booking may come in the global market after making a three-week high of $2,390. At the same time, silver prices will continue to rise because industrial demand for silver remains and the demand may increase in the coming days.