Stumbling gold price..!? Can we buy it today..!?

Sowmiya Sriram
Stumbling gold price..!? Can we buy it today..!?
The price of gold has been close to $1800 for the last month, but today, the first day of the week, is in a bit of a quandary amid various factors. Meanwhile, will the price of gold fall again today? Or will it break 1800 dollars again? gold prices are in a bit of a tailspin today, the first trading day of the week amid various factors. Last week's US jobs data is also expected to support gold prices. This could lead to the central bank taking action to boost the value of the dollar. It is also expected to boost the bond market. This could support gold prices.
The value of the US dollar has started to see a strong rally again. Last friday was $106.93 and $106.77. The continued appreciation of the dollar has made it expensive for other currency holders. This created a pressure on gold prices. The US bond market also hit a two-week high last friday, and its trend this week could be reflected in gold prices. US employment data shows pre-corona growth However, it is also expected to lead to a recession amid rising tensions.
By another 75 basis points, the US Federal Reserve is expected to raise interest rates. This further strengthens the dollar and may boost the bond market. This may put pressure on gold prices. As inflation continues to rise, this could prove to be a source of safe-haven gold. It is also expected to be good hedging.
This can be supported by the Russia-Ukraine problem, China-Taiwan problem, etc. This may prevent gold prices from falling further. gold prices are currently trading at $1787.50, down $3.70 per ounce in the international market. The same silver price decreased slightly and increased to 19.837 dollars.
While the price of gold is slightly down, the price of silver is in a bit of a tailspin.In the same indian commodity market, gold prices were largely unchanged, falling by Rs 23 to Rs 51,851 per 10 grams. The price of the same silver has increased by Rs 69 per kg and is trading at Rs 57,433. With the international market, gold prices are falling in line.
However, the price of silver is in a bit of a slump. Although the price of gold has decreased slightly in the international market, the price of ornamental gold is also increasing today. In chennai today, the price of jewelry gold has increased by Rs 5 to Rs 4,850 per gram and Rs 40 per bar to Rs 38,800.Today in chennai, the price of pure gold is also increasing. It is being sold at Rs 5,290 per gram, Rs 5,290 per gram, Rs 42,320 per sovereign, and Rs 52,900 per 10 sovereigns. 22 carat gold price (10 grams) in chennai today - Rs.48,500 mumbai - Rs.47,550 delhi - Rs.47,700 Bangalore - Rs.47,600 Coimbatore, madurai and other major cities - Rs.48,500.

Find Out More:

Related Articles: