Gold, silver The price of gold has once again returned to its upward trend. This upward trend has returned due to the expectation of reduction in interest rates in India including the US. Globally, gold futures on Comex have reached a 52-week high. On Comex, the gold futures for December 24 have risen by 53.80 (+2.16%) to reach $2,546.20 per troy ounce. At the same time, the spot price has also increased to $2506 per troy ounce. The spot price of silver has increased to $29 per ounce. Commodity experts say that the rise in the price of gold will continue. At the same time, the effect of a big jump in the price of gold in the global market will also be in the Indian market.
Why has the price of gold increased again?
Anuj Gupta, Head – Commodity & Currency, HDFC Securities told India TV that gold prices have returned to the uptrend due to expectations of interest rate cuts by the US Federal Reserve. Along with this, investors are buying gold due to the possibility of increasing geopolitical tensions in the Middle East. He said that the reduction in inflation in India including America has increased the hope that the central banks will now cut interest rates. Gold and silver will benefit from this. Talking about the Indian market, in the coming days, the price of 24 carat gold will once again be seen at Rs 73000 per 10 grams.
what is the price of gold today
- 24K Gold Price per gram: ₹7,178
- 22K Gold Price per gram: ₹6,581
- 18K Gold Price per gram: ₹5,385
Let us tell you that the price of gold remains the same across the country. A difference of a few rupees is seen from one city to another.
Gold had rolled yesterday
The price of gold in the local bullion market on Friday fell by Rs 400 to Rs 72,750 per 10 grams amid a surge in the prices of precious metals in the international market. Gold closed at Rs 73,150 per 10 grams in the previous trading session. According to the All India Sarafa Association, however, the price of silver rose by Rs 800 to close at Rs 84,000 per kg from Rs 83,200 per kg in the previous trading session. However, when the market opens on Monday, the price of gold and silver may rise. Demand will increase as the festive season begins. This may increase the prices of both precious metals.
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