Gold and silver became cheaper, now you will have to pay only this much!
If you invest in gold and silver or are fond of jewellery, then this news may be important for you. On Friday, the prices of gold and silver opened with a decline on India's Multi Commodity Exchange (MCX). The price of gold fell by Rs 294 and it was trading at Rs 85,740 per 10 grams, while it was Rs 86,034 on the previous day.
Silver's shine also faded
The price of silver also declined. It was trading at Rs 97,809 per kg, down by Rs 332, while the previous closing price was Rs 98,141.
Price also fell in the international market
gold prices also fell slightly in the international market, but it is maintaining an increase in the week. On Friday, spot gold fell 0.3 percent to $2,900.48 an ounce. However, gold has registered an overall gain of 1.6 percent this week.
What will be the price going forward?
There is uncertainty in the market about President Donald Trump's tariff policies in the US, due to which the demand for gold remains strong. Apart from this, US non-farm payroll data is awaited, which can be an important indicator related to the Federal Reserve's interest rates.
Effect of interest rates
Actually, gold is considered a safe investment against inflation, but when interest rates remain high for a long time, it can make the shine of gold fade a bit. Federal Reserve governor Christopher Waller has indicated that there is little chance of a cut in interest rates this month. However, if inflation comes down, a cut may be possible by the end of the year. If you are investing in gold and silver, then keep a close eye on the market trend. Possible changes in US policies and interest rates can also impact the indian bullion market.
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