Increase in the price of gold
Traders created fresh positions due to strong demand in the spot market, due to which gold prices rose by Rs 195 to Rs 59,330 per 10 grams in futures trade on Tuesday. At the Multi Commodity Exchange, gold for delivery in August rose by Rs 195, or 0.33 per cent, to Rs 59,330 per 10 grams, with a business turnover of 8,212 lots. Market experts believe that creation of new positions by participants has mainly pushed up gold prices. Globally, gold was trading 0.48 per cent higher at $1,965.70 an ounce in New York. Why did the price of gold increase today? Gold prices today hit a three-week high as the US dollar hit a 15-month low on concerns of a US Fed rate hike. US inflation fell to a two-year low following the release of US CPI data. The market expects no further rate hikes by the US Federal Reserve in the near future. In view of this, selling in the US dollar increased interest from buyers in gold prices. Gold futures contract for August 2023 on the Multi Commodity Exchange (MCX) opened at Rs 59,215 per 10 grams and touched a high of Rs 59,313 per 10 grams within minutes of the opening bell of the commodity market. Today the price of gold in the international market is at the level of $ 1,960 per ounce. Where is the cheapest gold Gold Silver Rates Today: According to Good Returns, till the time of writing the news, the gold prices in Sarafa Bazar are as follows – Gold rate in Chandigarh is Rs.60,130. 10 grams of 24 carat gold price in Delhi is Rs.60,130. In Jaipur, 24 carat 10 grams gold is being sold for Rs 60,130. Gold price in Patna is Rs 60,030 for 10 grams of Rs 24,000. 24K Gold price in Kolkata is ₹60,100 for 10 grams. In Mumbai, 10 grams of 24 carat gold is being sold for Rs.60,100. 10 grams of 24K gold price in Bangalore is Rs.60,100. 24K Gold price in Hyderabad is Rs.60,100 for 10 grams. 24 carat gold price in Lucknow is Rs 60,130 for 10 grams.
