Gold Price Today on 2nd August 2024 : Gold and silver prices are witnessing a significant rise today on Friday as well. US Fed Chairman Jerome Powell’s statement about a fall in inflation has increased the expectations of a rate cut in the upcoming Fed meetings. Its direct impact
This is being seen on the prices of gold. At the same time, the US dollar has weakened. The expectations of rate cut will weaken the US dollar and US Treasury yield. On the other hand, the increasing Israel-Palestine conflict has also led to a rise in the prices of gold and other precious metals.
Domestic prices of gold and silver
Domestic futures prices of gold were seen trading with gains on Friday morning. On the MCX exchange, gold for delivery on October 4, 2024 was seen trading at Rs 70,392 per 10 grams with a gain of 0.63 percent or Rs 438. At the same time, domestic futures prices of silver have also seen an increase. On MCX, silver for delivery on September 5, 2024 was seen trading at Rs 83,684 per kg on Friday morning with a huge gain of 1.32 percent or Rs 1090.
Gold on a global scale
Talking about the global level, gold on Comex was seen trading at $ 2,498.90 per ounce with a gain of 0.73 percent i.e. $ 18.10. Apart from this, spot gold was seen trading at $ 2,456.79 per ounce with a gain of 0.43 percent i.e. $ 10.53.
global silver price
Silver was seen trading with gains on Comex and Silver Spot was also seen trading with gains. Silver was seen trading with a gain of 1.38 percent or 0.39 dollars at $28.87 per ounce on Comex. Whereas, Silver Spot was seen trading with a gain of 1.09 percent or 0.31 dollars at $28.83 per ounce.
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