Gold continues to fluctuate in the global market. Gold may increase in the US market in the coming days. This will affect the domestic market.
In contrast to the decline in gold in the international market, the price of gold and silver in the domestic market has increased. However, this increase in gold was limited. Bond prices in the US are at the highest level since March last year. At the same time, inflation is also at a six-year high. Due to high inflation, buying in gold for hedging has increased. Although bond yields have also increased. Due to this, shopping in gold has increased.
Shining gold in MCX
In India, the prices of Gold Future in MCX rose by 0.15 per cent, ie Rs 69, to Rs 47,387 per ten grams. At the same time, Silver Future rose by 1.14 percent i.e. Rs 791 to Rs 69,908 per kg. Gold fell by Rs 661 to Rs 46,847 per ten gram in Delhi market on Friday. Silver declined by Rs. 347 and reached Rs. 67,894 per kg.
On Monday, gold spot in Ahmedabad sold for Rs 47,193 per ten grams, while Gold Future sold for Rs 47,400 per ten grams.
Gold market fluctuations
Gold fell on Monday in the global market. Spot gold fell 0.1 percent to $ 1,821.84 an ounce. US Gold Future fell 0.1 percent to $ 1,822.30 an ounce. Silver gained 0.4 percent and reached $ 27.46 an ounce. At the same time, the palladium rose 0.1 percent to $ 2389.67. Gold is likely to continue to fluctuate in the global market.
There has been a boom in the pace of gold investment from ETFs worldwide. At the same time, there is a slight rise in gold in the US market because the prospect of relief package has become very strong. This may increase inflation. Buying in gold will be faster for hedging inflation.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.