Gold prices: Gold prices rise for 5th straight day, silver up by Rs 400, know latest prices

Gold prices today: Domestic gold prices rose for the 5th consecutive day on Tuesday, driven by strong international markets and continued buying by jewellers. It was increased by Rs.550 to Rs.75,700 per 10 grams. The prices of 99.9 per cent and 99.5 per cent pure gold rose to Rs 75,700 per 10 grams and Rs 75,350 per 10 grams, respectively, in the Delhi bullion market, according to data provided by the All India Bullion Association. Gold prices have increased by Rs 1,300 per 10 grams in the last five trading sessions starting July 10. Silver price also increased by Rs 400 to Rs 94,400 per kg. It was Rs 94,000 per kg in the last session. Gold prices rose in the international market as higher gold prices and increased demand from jewelers amid expectations that the US Federal Reserve will cut interest rates. Gold prices touched an all-time high of $2,452 per ounce in the international market on Tuesday. Silver also rose to $30.77 an ounce. An ounce was at $30.68 in the last session. Why did Manav Modi, Senior Commodity Research Analyst at Motilal Oswal Financial Services Limited (MOFSL) say that gold and silver prices are bullish amid expectations of a cut in interest rates? He said no key figures had been decided on Monday. US Federal Reserve Chairman Jerome Powell's comments continued to make headlines. Powell said second-quarter data gave policymakers confidence that inflation was moving toward the Fed's target of two percent. He said the US Federal Reserve is in no rush to cut interest rates. He also expressed concern about a sluggish labor market and rising deficits. Dilip Parmar, Research Analyst, HDFC Securities, said this was due to demand for ETFs and gold prices rising to record highs globally. Gold prices rose in futures trading. Because on Tuesday, the price of gold per 10 grams was Rs. 172 increased to Rs.73,643. On the Multi Commodity Exchange (MCX), the contract for August delivery rose by Rs 172, or 0.23 per cent, to Rs 73,643 per 10 grams. Out of which 12,177 loads were traded. Globally, gold rose 0.36 percent to $2,437.60 an ounce in New York. Market analysts said gold prices rose as traders bought fresh contracts, while silver rose by Rs 258 to Rs 92,830 per kg in futures trade due to an increase in the volume of its contracts. On the MCX, the silver contract for delivery in September rose by Rs 258, or 0.28 per cent, to Rs 92,830 per kg. Out of which 22,725 loads were traded. Globally, silver rose 0.42 percent to $31.07 an ounce in New York. Market analysts said silver prices rose as traders bought new contracts due to a strong trend in the domestic market.Gold prices: Gold prices rose for the 5th consecutive day, while silver prices rose by Rs. 400 increased, do you know the latest price appeared first on Prabhat Khabar.