gold price today
Gold-Silver Rate Today: There has been a rise in the prices of gold and silver in the country once again. As soon as the market opened on the morning of 4th December, an increase was recorded in the gold rate. The strength in the international market and the fall of the rupee have pushed up prices in the domestic market as well. Both investors and jewelery buyers are keeping an eye on this change.
Rapid rise in gold prices
Gold, which was under pressure for the last few days, has again gained momentum today. In Delhi, 24 carat gold has reached ₹ 1,30,740 per 10 grams. This price is slightly lower in Mumbai, where 24 carat gold is trading at ₹ 1,30,590. Gold also appeared strong in the international market and its spot price remained near $4,207.67 per ounce. The record low level of rupee against dollar has also increased the prices.
The rates of 22 and 24 carat gold in major cities of the country are as follows:
Further changes in these rates depend on the global market and the movement of the rupee throughout the day.
Keep an eye on the Federal Reserve meeting
The eyes of the whole world are now on the meeting of the US Federal Reserve to be held on 910 December. The market hopes that the Fed can reduce interest rates. If interest rates fall, investors invest money in gold instead of bonds, due to which the price of gold may go up further. This is the reason why the trend already seems inclined towards the rise.
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Increasing gold import is becoming a problem for the economy, there has been a jump of 150%.
Silver also expensive – rise in prices
Along with gold, the rate of silver has also jumped. Today the price of silver reached ₹ 1,91,100 per kg. In the international market, silver is trading at $58.47 per ounce. Experts say that like gold, silver prices also have a major impact on dollar index, rupee and global demand.
Why are gold and silver becoming expensive?
Weakness of rupee, rising prices of gold in the international market, investors turning towards safe assets, expectations regarding Fed’s interest rates, all these reasons together have pushed the rates of both gold and silver up today.