Gold Price Today: Gold became cheaper today, silver also fell by Rs 438, check the latest rate of 10 grams of gold

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New Delhi. Gold and silver prices are continuously declining under the pressure of the global market. Gold in the Indian futures market has broken four days out of the last five trading days. Silver has become cheaper by Rs 438 in today’s business.

On the Multicommodity Exchange (MCX), the futures price of 24 carat purity fell by Rs 151 to Rs 50,753 per 10 grams. Earlier, trading in gold opened openly at Rs 50,800, but soon the prices started showing a decline due to low demand. Gold is selling about 0.30 percent cheaper than the last close. Despite the decline for four days, the price of gold remains above 50 thousand.

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silver also lost its luster
On the lines of gold, a fall in the futures prices of silver is also being seen today. On MCX, silver futures fell by Rs 438 in the morning to Rs 60,210 per kg. Silver trading started openly at Rs 60,374 in the morning, but due to weakness in demand, its prices declined further. Silver is currently trading 0.73 percent below the previous closing price.

There was also a decline in the global market
Today the global market is also showing a decline in the prices of gold and silver. In the US market in the morning, the spot price of gold was $ 1,832.94 an ounce, which is 0.19 percent down from the previous close. Similarly, the spot price of silver stood at $21.32 an ounce, which is 0.33 percent lower than the previous closing price. Another precious metal platinum has also seen a decline of 0.3 percent and its spot price has reached $ 923.

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Increase in interest rates put pressure on gold
US Fed Reserve Chairman Jerome Powell has indicated to raise his interest rates to 1.25 percent in the next few months. Due to this, the bond yield in America is increasing continuously and there is pressure on gold prices. Powell has clearly said that our objective is to bring down inflation and for this there is no option but to increase interest rates. Experts say that there will be pressure on gold prices for some time to come, but as soon as inflation comes under control, both gold and silver will become expensive.

Tags: gold investment, Gold Price Today, Silver Price Today

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