look news india
gold price: Generally, purchasing of gold in the country continues throughout the year, but there are some occasions when its demand increases. For example, buying gold on Dhanteras is considered auspicious. Thus, buying gold on Akshaya Tritiya is also considered more auspicious. This year, before Akshaya Tritiya, the gold rate has broken all the old records.
Amidst the strengthening trend in the international market Gold price in Delhi's bullion market on last trading day Thursday It increased by Rs 350 to Rs 67,350 per 10 grams. Silver price also increased by Rs 200 to close at Rs 77,450 per kg. The market was closed on Friday due to Good Friday.
Prices increased by Rs 11,000 in 6 months
In the last six months, gold prices on MCX have increased by about Rs 11,000 per 10 grams. So according to commodity market experts, further growth will be seen. Market experts said the rise in gold prices is likely to continue in FY2025 as the US Fed is expected to cut three interest rates in 2024.
75,000,
There is a possibility that the US Fed may cut interest rates thrice in the first 9 months or say the first three quarters of the new financial year. Apart from this, global political tensions, decline in US inflation and performance of US dollar are also likely to impact gold prices. Gold prices on MCX are expected to rise to Rs 75,000 per 10 grams in the next financial year.
Talking about the surge in gold prices in FY24, Sugandha Sachdeva, Founder, SS WealthStreet, said – There has been a huge surge in the price of gold. 11,000 per 10 grams in the last two quarters of the current financial year. Which has attracted investors. This bullish trend is likely to continue. Gold is likely to shine further in the coming financial year.