Gold Price Today: After the recent decline in the market, once again the price of gold is seeing a rise. For the third consecutive day, the price of gold has risen in the domestic and global markets. Today, gold has reached the level of around ₹ 93,500 per 10 grams on the Multi Commodity Exchange (MCX)
Gold Price Today: After the recent decline in the market, once again the price of gold is seeing a rise. For the third consecutive day, the price of gold has risen in the domestic and global markets. Today, gold has reached the level of around ₹ 93,500 per 10 grams on the Multi Commodity Exchange (MCX), which shows a daily rise of about 1%. Gold prices have seen a rise of about 7% in the last one month, making it an attractive option for investors again.
Gold prices are strong at the global level too
Gold prices have also seen strength in the international market. Gold has crossed $3,280 per ounce on COMEX, with a gain of $21 today. The main reason for this is the geopolitical tension between China and the US and uncertainty about interest rates in the US. The possibility of interest rate cuts by the Federal Reserve remains a matter of concern among investors, which has increased the demand for gold as a safe haven.
Volatility in silver movement
On the other hand, fluctuations in silver prices continue. The price of silver on MCX remains around ₹ 93,000 per kg. However, it has seen a slight decline in the domestic market. In contrast, silver prices in the global market saw a rise of about 0.5% and silver has reached close to $33 per ounce on COMEX.
The main reason for the volatility in silver prices is global uncertainty and the decrease in industrial demand for silver. Since silver is used extensively in electronics, solar panels and automobile industries, the fall in demand is directly affecting the prices.
Investors should be cautious amid strong movement in gold and instability in silver. Experts believe that Fed policies, global tensions and dollar movement will determine the direction of precious metals in the next few weeks. Looking at the stable rise in gold, long-term investors can include it in their portfolio.
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