Friday, July 12, 2024
Home News Gold rates today near $2000 on soft US dollar. Will it climb...

Gold rates today near $2000 on soft US dollar. Will it climb to a new peak?


Gold Rates Today: Gold prices today traded close to the $2,000 mark in the international spot market after touching the $2,000 mark on Thursday. This has fueled speculation that the yellow metal may surpass its all-time high of $2,072 an ounce. Gold prices on the MCX opened with a margin and reached 59,487 per 10 gram, the day’s high. silver cost today 72,000 for each kg level and proceeded to move to day’s high 72,094 for every kg levels. The white metal fetches approximately $23.90 per ounce, while the yellow metal fetches approximately $1,982 per ounce on the international market.

Experts in the commodity market say that as the US dollar fell and the dollar index fell below 102 levels, bullion prices are rising on the international market. He went on to say that gold prices might see a strong rise to 60,000 for 10 grams in the domestic market after maintaining levels above $2,000 on the international market. Essentially, silver today is confronting prompt obstruction close $24 per ounce, while in the homegrown market, it is confronting opposition close $72,500 per kg.

What’s driving the rise in gold, silver prices

“Gold has maintained its positive momentum registering strong gains in the previous session despite easing concerns about banking sector crisis and risk on sentiment returning to the markets,” market expert Sugandha Sachdeva stated regarding the reasons for the rise in gold and silver prices. The appeal has not been diminished. The new mellowing in the dollar file has been a critical variable supporting the standpoint for gold as market members expect the US Took care of not to climb rates a lot higher than current levels.”

Can gold climb to new highs?

Debajit Saha, Lead Examiner, Refinitiv Metals said, “The abrupt ascent in gold costs was principally because of the breakdown of two territorial banks in the US followed by the emergency in one. The decision has sparked a number of market speculations that gold may reach new highs right now. In essence, it would appear that investors would rather avoid the market and wait for prices to stabilize.”

“The price structure indicates a solid move to the upside,” Sugandha Sachdeva said, advising positional investors to wait for a fresh breakout in the prices of yellow metal. There may be additional gains toward the June contract’s 60,000 per 10 grams mark, or 60,600 per 10 grams. However, the $2,000 per ounce mark remains a significant obstacle in the near future.” He added that the US PCE price index data, the Fed’s preferred inflation gauge for evaluating the performance of the central bank, will now be the focus of all attention. can provide additional clues regarding the policy’s future direction.

Disclaimer: o2help is not responsible for the opinions or recommendations expressed above—they are those of individual analysts or brokerage firms. Before making any investment decisions, we recommend that investors conduct due diligence with licensed professionals.


Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm global trends

Market, The final day of the fiscal year 2022-23 saw gains for benchmark indices, with a gain of nearly 2% on Friday, extending gains for...

Day trading guide for today: 6 stocks to buy or sell on Friday — 31st March

Trading, Day trading guide for today: Indian shares gained on Wednesday as global markets' increased risk appetite was aided by easing in the banking industry....

Financial, IT stocks aid Indian shares snap three-month losing streak

Financial, By Bharat Rajeshwaran BENGALURU (Reuters) - Indian shares rose on Friday, supported by a higher weighting of financial stocks and information technology (IT) stocks,...


Please enter your comment!
Please enter your name here


Most Popular

Trading the Inside Bar Pattern on Pocket Option Platform

Inside Bar Pattern Introduction Price movement on a chart is examined in price action trading. You may use candlesticks to predict where prices will move...

“Unlocking the Secrets: 4 Tricks of Successful Traders on Pocket Option Platform”

For a year, I have been trading on the Pocket Option platform. I sometimes succeed and sometimes fail. However, I was confident that if...

Identifying Mistakes That Lead to Losses on Pocket Option

Why do people lose their money when trading binary options New traders frequently take a significant financial risk while trading binary options. As a result,...

Weekly Income Plan on Pocket Option Platform”

Get weekly returns on Pocket Option It turned out that October was a terrific month for me. I am still able to generate money every...

Recent Comments