Gold and Silver The feeling is on fire. This fire is not stopping. Prices are rising day by day. In fact, the effect of rising prices in the international market is being seen in the Indian market as well. Let us tell you that the price of gold in the international market has crossed $ 2,300 per ounce. During trading, gold touched the highest level of $ 2,304.96 an ounce in the international market. This is now the highest rate of gold till date.
Why did the price of gold rise so much?
The reason for the rise in gold is the statement of Jerome Powell, Chairman of the US Central Bank Federal Reserve. He has said that inflation in America is still higher than the target but interest rate cut can start any time this year. Powell indicated this in his Wednesday speech at Stanford University in California. Interest rate cuts are good for gold and silver. Therefore, the price of gold continues to rise.
What is the rate of gold in India?
If we look at the gold rate on MCX exchange, the contact of April 5 is trading at Rs 69,999 with an increase of Rs 221. At the same time, the silver contact of May 3 has reached Rs 79630 with an increase of Rs 186. In the domestic bullion market, gold has reached a new record level of Rs 69,200 per 10 grams. The price of silver has reached Rs 80,700 per kg.
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