What’s inside:
This article gives updates on the rise in gold and silver prices in India and globally. It explains the reasons behind these changes.
Today, on Thursday, gold and silver prices are going up in both the Indian futures market and the global market. This increase is mainly due to the weakness of the US Dollar, leading investors to prefer gold as a safe investment option.
In the domestic futures market, gold and silver are showing gains. This morning, gold is priced at ₹1,20,637 for 10 grams, marking a 0.10% increase, which is ₹115 more. Silver is trading at ₹1,47,404 per kg, up by 0.04% or ₹83.
The modest gains in prices suggest that there hasn’t been a strong reason to push the market higher. The earlier hopes for a cut in interest rates by the US Federal Reserve have not materialized, which has affected market expectations.
In the global market, gold prices are also rising slightly, but the increase is limited. Strong employment data from the US generally leads the Federal Reserve to maintain high-interest rates, which can lower the demand for gold.
Looking at global prices, gold is currently priced at $3,994.20 per ounce on Comex, up by 0.03%, and $3,986.75 in the spot market, up by 0.18%. Silver prices show mixed trends, with Comex at $47.97, down by 0.11%, while the silver spot price is $48.21, up by 0.42%.
Summary:
- Gold and silver prices are rising today in India and globally.
- Gold is at ₹1,20,637 for 10 grams, and silver is at ₹1,47,404 per kg.
- The rise is linked to the weakness of the US Dollar.
- Global gold prices are also increasing but at a limited rate.
- Strong US employment data is affecting gold demand negatively.
