Gold Price Today: Big News! Big relief to those who buy gold, today gold became cheaper by Rs 4000, check price of your city

Gold Silver Price Today: Due to global cues, vigorous action is being seen in the prices of gold and silver. Gold rate on MCX is trading at the rate of Rs 58000 per 10 grams.

Gold Silver Price Today:

Strong action is being seen in the prices of gold and silver due to global cues. Gold rate on MCX is trading at the rate of Rs 58000 per 10 grams. The price of gold has come down by about 4000 rupees from the record high. While a jump of Rs 430 is being recorded in the price of silver on MCX. The rate of one kg gram has reached Rs 68625.

Gold became cheaper

• Gold on MCX below Rs 58,000
• Cheapest price in three and a half months
• The price came down by about 4000 rupees from the record high
• The price fell below $1900 on Thursday in the global market
• The price is down about $ 180 from the high of the year.
• Prices fall by around 4% this month

Why the fall in gold?

• Growth is expected to pick up in the US
• US Q1 GDP growth better than earlier estimates
• Growth revised from 1.3% to 2%
• Weekly unemployment claims at 2 year low
• Dollar index crosses 103, at the height of 2 weeks
• Fed hints at two more rate hikes this year

Gold in international market

There is heavy action in the gold prices in the international market. The price on Comax reached near $1900. However, due to recovery from lower levels, the price has reached $1919 per ounce. Explain that the reason for the pressure on gold prices was the strong US economic data. While there is a slight rise in the prices of silver. Silver rate is trading at $22.84 per ounce on Comax.

Outlook for the future

Commodity market expert and Vice President of IIFL Securities said that further softening can be seen in gold. While the price of silver will increase. He said that gold on MCX can slip up to Rs 57700. While the rate of silver on MCX will go up to Rs 70500.