look news india
Gold prices today: The aggressive rise of gold has come to a halt. Precious metal prices fell for the second consecutive day. MCX gold yesterday Rs. Today it fell by Rs 592 to Rs 1391 per 10 grams. Gold futures on MCX at 11.16 am on June 5 will be Rs. It was being traded at Rs 70605 per 10 grams.
Yesterday also the price of gold in Ahmedabad was Rs 100. Rs 1100 were reduced. After reaching 75200, a further decline is being seen today. When the market opens in the morning in Ahmedabad, the price of sava is Rs 20. There was talk of Rs 73800 per 10 grams. Which is more than Rs. Shows a decrease of 1400. Globally, the price of gold declined by 1.01 percent to Rs 2322.40 per ounce.
Factors responsible for the fall in gold
, The ongoing war between Iran and Israel is decreasing. With no new threat or attack being predicted between the two, gold was sold off.
, The dollar index strengthened after the US Fed announced that it would not cut interest rates yet.
, Buying gold has become easier as economists point to a possible increase in inflation.
, If the Fed does not cut interest rates when high inflation numbers are reported, this will cause US Treasury yields and the dollar index to strengthen, resulting in gold falling.
, As the geopolitical crisis subsides, volatility in the bullion market has increased, with investors selling and booking profits.
the silver shine has faded
Silver today on MCX above Rs. Decreased to Rs 703. 79876 per kg is being quoted. Tomorrow Rs. 2340 was broken. Yesterday silver price in Ahmedabad was Rs. 83000 per kg. Silver in Ahmedabad Rs. There is talk of Rs 79000 per kg. Which is Rs. compared to yesterday. 4000 is open.
This week, US GDP data will be released on Thursday and personal consumption expenditure data on Friday. If inflation increases, gold prices may fall further in the near future.