Gold Price Today on 8th May 2024 : There was a slight rise in gold prices in the domestic futures market on Wednesday morning. On MCX exchange, gold for delivery on June 5, 2024 was seen trading at Rs 71,203 per 10 grams with a rise of 0.08 per cent or Rs 55. There has been an increase in gold prices even at the global level. HDFC Securities Senior Analyst (Commodity) Saumil Gandhi said, “Taking positive cues from overseas markets, spot gold (24 carat) in Delhi was trading at Rs 72,450 per 10 grams on Tuesday, which is Rs 200 more than the previous closing price.” Is.”
Demand for safe haven assets increased
Gandhi said, “This year, gold prices rose due to indications of interest rate cuts by the US Federal Reserve. Dovish comments from US policymakers have boosted interest rate cut expectations. Apart from this, rising geopolitical concerns in West Asia also supported gold, he said. “Demand for safe haven assets increased as Israel rejected a Hamas-backed ceasefire proposal to end fighting in Gaza.”
rise in silver also
Along with gold, silver prices have also seen a rise in the domestic futures market. On the MCX exchange, silver for delivery on July 5, 2024 was seen trading at Rs 83,030 per kg with a gain of 0.18 per cent or Rs 152. On Tuesday, the spot price of silver in Delhi bullion market closed at Rs 85,000 per kg with a rise of Rs 700.
global price of gold
Talking about the global level, on Wednesday morning, gold was seen trading at $ 2,325 an ounce on Comex with an increase of 0.03 percent or $ 0.80. At the same time, the global spot price of gold was seen trading at $ 2,318.31 per ounce with an increase of 0.18 percent or $ 4.21.
global price of silver
There has also been a rise in global prices of silver. On Comex, global silver was seen trading at $ 27.60 an ounce with a gain of 0.22 percent or $ 0.06. At the same time, silver spot was seen trading at $ 27.40 an ounce with an increase of 0.58 percent or $ 0.16.
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