Shocking gold price..! 1200 rupees increase in one day..!?

The united states, the world's largest superpower, has decided to stop controlling its monetary policy as inflation has slowed. Not only this, it has announced that it will reduce the interest rate 3 times in 2024 alone. This one announcement changed the entire investment market last night. This decision by the Federal Reserve sent trillions of dollars accumulated in the country's bond market out of stock markets in the united states and around the world. In response, the Dow Jones, S&P 500, and Nasdaq indices rose up to 1.4 percent in yesterday's trade. At the same time, due to the large outflow of dollar currency, the value of the dollar started to decrease and the investment in gold increased.
As a result, the price of an ounce of 24-carat gold in the international market was 1980 dollars till yesterday evening, but it has risen to 2039 dollars after the announcement of the Federal Reserve. The main reason for the bullish rally in gold was the DXY index, which measures the value of the US dollar, fell to 102.53 from 103.92 overnight. In this situation, if there is a loss in the bond market, investors who are looking for a safe investment have jumped on gold. This price change is bound to reverberate in the indian market. On the MCX market, the price of 10 gm 24-carat gold rose by 2.09 percent to Rs 62,475.00 in the february futures order, while the march silver futures order rose by an astonishing 4.12 percent to Rs 74,481.00. 10 gm 22-carat gold rose by Rs 1,200 to Rs 58,200 in retail trade today, while 10 gm 24-carat gold rose by Rs 1,310 to Rs 63,490. Similarly, in the retail market today, the price of jewelry rose by Rs 960 to Rs 46,560 per sawan. Along with this, there has been a change in the price of silver which is mostly sold in the retail market. In the retail market, the price of 1 kg of silver rose by Rs 2,500 to Rs 79,500. Also, the price of platinum rose by Rs 210 to Rs 25,140 per 10 grams.
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gold price increase

Sowmiya Sriram

14/12/2023 02:48 PM