Gold Price Today
The price of gold in the country’s capital Delhi has seen a decline for the second consecutive day. According to experts, last week the Fed Chairman indicated the cut in interest rates. After which there was a jump in the price of gold. Inflation is still a matter of concern in America. It is expected that the fed will not cut interest rates as aggressively. In such a situation, the rise in gold prices can be limited. The effect of which can be seen in gold prices in India too. The Fed meeting is going to be held in the mid -September mid. Let us also tell you how much gold and silver prices have been done in Delhi’s Rajdhani Delhi.
Gold became cheaper in Delhi for the second consecutive day
According to the All India Bullion Association, the price of gold in Delhi fell by Rs 200 to Rs 1,00,170 per 10 grams on Monday. On Friday, gold with 99.9 per cent purity closed at Rs 1,00,370 per 10 grams. In the national capital, gold with 99.5 per cent purity fell by Rs 150 to Rs 99,900 per 10 grams (including all taxes) on Monday. It closed at Rs 1,00,050 per 10 grams in the last market session. Meanwhile, silver prices remained stable at Rs 1,15,000 per kg (including all taxes). In global markets, Gold, spotted in New York, was trading at $ 3,363.45 an ounce in New York. The spot silver also fell 0.17 percent to $ 38.78 an ounce.
Why Gold became cheaper?
Praveen Singh, the Chief of Commodities and Currency of Mirae Asset Sharekhan, said, “Gold is seeing a decline on Monday and if the US employment market is weak then it is expected to have positive trends, because the possibility of cutting interest rates has increased. Mehta Equisite Vice President Rahul Caller said that last week, Jackson Hole Sango said, Jackson Hole Sango, American Federal Rejuar Sangarm said, American Federal Regent After the soft -stamped comments, the prices of gold and silver bounced rapidly. Powell indicated that the central bank may cut interest rates for the first time after December.
When will the fed meeting be held?
The artist said that the upcoming FOMC meeting of the US Federal Reserve is going to be held on 16-17 September. However, due to frequent inflation concerns and dull economic activities, there may not be aggressive cuts in interest rates, which can prevent further boom in precious metals. According to Research Head Renisha Chanani at Augmont, investors will keep a close watch on the initial data of the second quarter US GDP, which is going to be released on Thursday and will give more information about the Monetary Policy Tare of the Federal Reserve and the perception of the bullion market.