look news india
Gold price today: The bullion market has recently witnessed soft sentiments in view of the interest rate announcements by the US Fed Reserve. However, gold prices declined after the US Fed announced that it would cut interest rates only once in 2024. However, investors were expecting two cuts.
For the last three days, the price of gold in Ahmedabad has remained stable at Rs. 74000 per 10 grams. While the price of silver today has been reduced by Rs. 100. 500 to Rs. 90500 per kg. The price of hallmark gold today was quoted at Rs. 72520 per 10 grams. So far in the month of June, the price of silver has remained between Rs. 90000-92000 per kg and the price of gold has remained between Rs. 72500-74500 per 10 grams.
Gold fell on MCX
In precious metals futures trading, MCX gold August futures opened at Rs 71,475 per 10 gram at the start of the session, touched a high of Rs 71,578 and a low of Rs 71,331 during the day, before closing at Rs 71,510, down Rs 460. In contrast, gold-guinea June contract fell Rs 8,196 per gram to Rs 58,542, and gold-petal June contract fell Rs 23 to Rs 7,113 per gram. Gold-mini July futures fell Rs 446 to Rs 71,350 per 10 gram.
In silver futures, silver opened at Rs 88,946 per kg at the start of the July session, touched a high of Rs 88,978 and a low of Rs 88,284 during the day, and was trading down by Rs 1,611 at Rs 88,834. Silver-mini June contract fell by Rs 1,612 to Rs 88,762 and silver-micro June contract fell by Rs 1,606 to Rs 88,756.
Despite positive factors including low US inflation, better GDP growth, low unemployment, the Fed Reserve is still waiting for stable data in the near term. Hence it has maintained an accommodative stance with the possibility of cutting rates once this year.
