After the continuous decline, there is some recovery in the price of gold. But it is difficult to say how permanent this recovery in gold will prove.
After Wednesday’s fall, there was a recovery in the future prices of Gold and Silver on Thursday. Given the decline in bond yields in the US market, investment in gold increased and its prices recovered. Retail sales have increased in the US and manufacturing activity has also increased. This can increase inflation. This situation can increase the prices of gold because investment in gold is used for hedging inflation.
Slight increase in gold in domestic market
In the domestic market, there was an increase in gold prices on Thursday. In MCX, gold rose 0.40 per cent, ie Rs 187, to Rs 46,424 per ten grams, while Silver Future rose 0.42 per cent, ie Rs 293 to Rs 69,524 per kg. In the global market, gold on Wednesday stopped after going down for five days and going down. It was priced at $ 1784 an ounce on Wednesday. However, due to the pace of economic recovery, the pressure on gold has increased and its prices have come down.
Gold-silver fell in Delhi market
On Wednesday, gold fell by Rs 717 to Rs 46,102 per ten grams in the Delhi-NCR market, while silver fell by Rs 1,274 to Rs 68,239 per kg. On Thursday, spot gold in Ahmedabad sold at Rs 46,490 per ten grams, while Gold Future sold at Rs 46,451.
Gold rose in the global market
On the other hand, gold rose slightly in the global market after its biggest decline in two months on Thursday. Spot gold climbed 0.1 percent to $ 1,777.06 an ounce on Thursday. On November 30, it was at $ 1768.80 an ounce. US Gold Future climbed 0.3 percent to $ 1777.40 an ounce. Silver fell 0.1 percent to $ 27.33 an ounce. Platinum rose 1.4 percent to $ 1,271.15.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.