look news india
Gold price today: The festive season has begun in the country with the holy festival of Raksha Bandhan. Gold and silver markets in Ahmedabad have seen a surge today due to positive factors globally along with an increase in demand with the onset of festivals.
In the last two days the price of gold in Ahmedabad has increased by Rs. 1500 to Rs. 74500 per 10 grams. While silver has increased by Rs. 3500 to Rs. 85500 per kg. On Saturday gold was up by 100 rupees at Rs. 74000 per 10 grams and silver was being quoted at Rs. 83000 per kg. On Friday the price of gold was Rs. 73000 and the price of silver was Rs. 82000.
Gold and silver rise on MCX
On MCX, October 4 gold futures rose by Rs. 506 and September 5 silver futures rose by Rs. 1155. MCX gold today quoted at Rs. 72090 per 10 gram and silver at Rs. 72090 per 10 gram. 85505 per kg. Globally, gold was at a record high of $2,561.20 per ounce and silver at $29.81 per ounce.
Reasons for rise in precious metal
Positive factors globally, weakness in the dollar and strong possibility of a rate cut by the Fed have led to a comeback in the precious metal. The dollar hit a seven-month low on expectations that the Fed will start cutting interest rates next month. The fall in the dollar index also increased buying in precious metals. The festive season has also started at the local level.
