Gold Rate: Gold prices rose by Rs 950 to Rs 79,300 per 10 grams in Delhi’s bullion market on Tuesday, December 17, 2024 due to fresh purchases by jewelers at existing levels to meet the demand of the wedding season. . Apart from this, a two-day meeting of the US Federal Reserve is starting on Tuesday. The Federal Reserve’s decision on interest rates may impact the overall performance of gold next year. The price of gold of 99.9% purity closed at Rs 78,350 per 10 grams on Monday.
Silver prices fall for the third consecutive day
Silver continued to fall for the third consecutive day and fell by Rs 1,000 to Rs 91,500 per kg, while its previous closing price of silver was Rs 92,500 per kg. Meanwhile, on Tuesday, the price of gold of 99.5% purity jumped by Rs 950 to Rs 78,900 per 10 grams. In the last trading session it had closed at Rs 77,950 per 10 grams.
Gold price increased due to increase in demand
Traders said the yellow metal rose due to purchases by jewelers during the wedding season and increased demand for gold as a safe investment. In international markets, Comex gold futures fell by $ 15.50 an ounce to $ 2,654.50 an ounce. Chintan Mehta, Chief Executive Officer, Abans Holdings, said, “Gold prices remain stable due to increased uncertainty about future interest rate cuts due to mixed economic data in the US. “Manufacturing PMI was weaker than expected, while services PMI was above forecasts.” Silver was trading 0.99 percent lower at $30.75 an ounce in Asian trading hours.
Disclaimer: Times of Bihar does not give any advice for any buying or selling related to the stock market. We publish market related analyzes quoting market experts and broking companies. But take market related decisions only after consulting certified experts.
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