look news india
Gold and silver prices rose in the international market and buying increased in the domestic bullion market due to the expectation of reduction in interest rates. This led to an increase in the price of gold and silver. Gold became expensive as speculators increased their position in futures trading.
The price of gold in Delhi bullion market rose by Rs 500 to Rs 74,100 per 10 grams. In the bullion market, 99.5 percent pure gold rose by Rs 500 to Rs 73,750 per 10 grams, which was Rs 73,250 per 10 grams on Thursday.
Rising gold prices in bullion market
According to the information, the rise in the prices of yellow metal internationally has led to a rise in the domestic bullion market. Bullion markets rose on Thursday due to weak expectations of US employment data. This has increased the expectation of a sharp cut in interest rates. This supported gold. After the US employment data, market operators have predicted an interest rate cut by the Federal Reserve on September 18, 2024.
Gold prices also rose in futures trading
Gold prices rose by Rs 183 to Rs 71,649 per 10 gram in futures trade on Thursday amid strong spot demand and more fresh deals taken by speculators. On the Multi Commodity Exchange, the October delivery contract was up by Rs 183 or 0.26 per cent at Rs 71,649 per 10 gram. 15,118 lots were traded in it.
Such a rise in silver futures
Silver futures rose by Rs 335 to Rs 83,900 per kg as traders increased bargaining amid strong spot demand. On MCX, silver contract for December delivery closed higher by Rs 335, or 0.4 per cent, at Rs 83,900 per kg with a turnover of 31,985 lots.