look news india
After an initial rally in global markets, bullion's recovery was limited due to strengthening of the dollar. There were expectations of pressure on gold and silver prices after the US economic data and due to this, gold and silver prices rose internationally as soon as the market opened. On the other hand, the strengthening of the dollar led to selling in bullion, which limited the gains.
In Ahmedabad, 24 carat gold rose by Rs. 250 to Rs. 74,250 per 10 grams. Similarly, 22 carat gold rose by Rs. 200 to Rs. 74,050 per 10 grams. Silver price remained unchanged at Rs. 90,500 per kg. Globally, gold closed at $2330 per ounce, up from $2319. Globally, silver fell from $29.35 to $29.22 per ounce. Bullion experts said that after the CPI trades weakened, there was a positive sentiment for gold. On the other hand, since there is no clarification yet on the Fed's policy
The dollar strengthened and some selling was seen in the global markets. Due to this, investors are in a wait and watch mode.