Disappointing gold price..!? Do you know how it is today..!?

Sowmiya Sriram
Disappointing gold price..!? Do you know how it is today..!?

The price of gold is still on a slight upward trend due to various factors. It is expected to see a slight uptick as the value of the US dollar continues to decline, while the price of gold continues to rise. Because of this, investors are watching closely. It is also expected that important measures can be taken to control the rate of economic growth. As the value of the dollar continues to come under pressure, it has made it more expensive for other currency holders. This has also caused the price of gold to increase. There is also an expectation that the bond market may also encourage this. The central bank has to bring inflation under control. It is also necessary to sustain the economy further. Meanwhile, the central bank's move has raised expectations.
If one raises interest rates to keep inflation under control, it can boost the dollar's value. This may have an impact on gold, which is an interest-free investment. As a result, it is expected that the price of gold may decrease. The data on the production of the united states last July confirms that the economy of the united states is still in decline.
So if this continues it may lead to recession. This may also lead to a rise in gold prices. gold prices are currently trading at $1768.55 an ounce, up $7.05 an ounce in the international market. The same silver price also increased by 1.11% and is seen at 19.115 dollars. gold and silver prices are likely to increase slightly in the medium term.
In response to the international market, gold prices in the indian market are seen to be slightly bullish. Currently, it is trading at Rs 51,629 per 10 grams, which has increased by Rs 196. The same silver price has also increased by Rs 527 per kg and is trading at Rs 55,463. While gold and silver prices have seen a slight increase, it is likely to rise again in the medium term.While the price of gold has increased slightly in the international market, the price of ornamental gold has increased slightly today.
In chennai today, the price of jewelry gold has increased by 25 rupees to 4830 rupees and the same savaran has increased by 200 rupees to 38,640 rupees. In chennai, the price of pure gold has also increased today. It is being sold at Rs 5232 per gram with an increase of Rs 25, while the same savaran is being sold at Rs 41,856 and Rs 250 per 10 grams at Rs 52,320.

22 carat gold price (10 grams) in chennai today - Rs.48,300

Mumbai - Rs.47,500 

Delhi - Rs.47,650

Bangalore - Rs.47,550
In other major cities like Coimbatore, and madurai - Rs.48,300.
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