Gold on Multi Commodity Exchange i.e. MCX was seen at Rs 93,090 per 10 grams at 9.49 percent at 9.55 am during this morning deals. Gold prices on MCX today opened up to ₹ 93,249 and touched a high level of ₹ 93,340 per 10 grams within a few minutes of the opening vine. According to experts, US President Donald Trump’s U-turn on US-China tariff and US Fed chairman Zerome Powell is seeing the impact on the price of gold on the US Fed chairman Geom Powell.
Silver cost less
The price of silver at MCX at 9.55 am, however, declined by 0.02 percent and it was seen trading at Rs 94,049 per kg. Apart from this, according to the news, spot gold up to 0031 GMT increased by 0.2 percent to $ 3,245.01 an ounce. US gold futures rose 0.3 percent to $ 3,252.00. The dollar was 0.1 percent below its competition, making gold more attractive for other currency holders.
Sleeping in big cities today
According to information available on India Bullion Association (IBA), gold prices in Delhi are ₹ 93,210/10 grams. The price in Mumbai is ₹ 93,290/10 grams. Gold price in Bengaluru is ₹ 93,440/10 grams, Gold in Chennai is ₹ 93,640/10 grams and gold in Kolkata is ₹ 93,250/10 grams. Recently after touching the record high, gold has recently seen a decline.
Statistics show that since 1995, gold has defeated inflation more than 2-4 percent. Economic uncertainties around the world, including war, recession and inflation, are pushing investors towards gold as a safe alternative. In the US, stable interest rates and weak dollars have also contributed to the increase in gold prices internationally.
(Disclaimer: This news is only for information. Be sure to consult your financial advisor before investing.)
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