look news india
Gold and silver price today: Bullion market and Indian Bullion Jewelers Association have said that gold and silver prices have seen a decline. In the local market, gold has become cheaper by Rs. 1000 per 10 grams. On Tuesday, the price of 22 carat gold was Rs. 66400 per 10 grams on an average. It was being quoted at Rs 65600 per 10 grams at an increase of Rs 800.
Yesterday, the price of gold in Ahmedabad remained steady at Rs. 72000 per 10 gram. Silver price was reduced by Rs. 500 and was being quoted at 80500 per kg. MCX gold was up by Rs. 25 to Rs. 68,990 per 10 gram and silver futures price for September 5 was reduced by Rs. 223 and was being traded at Rs. 79400 per kg.
Experts say that due to the rise in the US dollar, pressure has been seen on the price of gold. The price of gold on Comex fell to $ 2388 per ounce. A day earlier it was $ 2400 per ounce. There is a possibility of a fall in gold prices amid fears of recession in America.
The rise in the dollar index has put pressure on gold. The rise in treasury yields also brought down the prices of the precious metal. However, investors are still wary of interest rate cuts by the Fed Reserve. Commodity experts say that the trend of gold and silver will be decided after the picture of rate cut from the Fed becomes clear.
