Gold price rises, Should you put money into something?

On Monday, the price of gold in India increased somewhat. At 0930 hours on July 26, August gold futures on the Multi-Commodity Exchange (MCX) rose 0.25 percent to Rs 47,653 for 10 kilos. On Monday, silver rose as well. On July 26, the September future for the precious metal rose 0.04 percent to Rs 67,194 per kilogram.

On Monday, gold prices in the worldwide market plummeted. According to Reuters, spot gold fell 0.1 percent to $1,799.89 per ounce at 0110 GMT. Gold futures in the United States slipped 0.2 percent to $1,798.90 per ounce. Last week, the dollar index climbed to a three-month high. As a result, the price of yellow metal has increased for holders of other currencies. The Federal Open Market Committee’s meeting this week is attracting a lot of attention. Experts predict that the US central bank would maintain its current policy rates and stance during the meeting. Investors, on the other hand, will be looking for signs as to when the Federal Reserve of the United States will begin to tighten its monetary policies.

In India, merchants are giving steep discounts on gold to boost the country’s sluggish demand for the precious metal. According to sources, the country’s dealer discount on gold remained near one-month highs.

Latest articles

Debt Recovery Ecosystem in India, Impact of Phygital Debt Collection, and the Way Forward: Mobicule Technologies’ Siddharth Agarwal

In the past few years, India has observed a massive transformation across industries owing to digitisation, new communication channels, and stringent regulatory...

HMD Global Launches Nokia C32: Fashionable Design, Powerful Imaging, and Android 13!

HMD Global, the leading manufacturer of Nokia phones, has announced the launch of the Nokia C32, the latest addition to the popular...

Indian govt likely to reopen semiconductor application worth $10 billion to attract global chip companies

A day after India's IT Minister Ashwini Vaishnaw interacted with the leadership team of  Semiconductor Equipment and Materials International (SEMI), which is the...

Gautam Adani Climbs to Top 20 on Billionaires List with a Net Worth of $64.2 Billion

Indian business tycoon Gautam Adani, chairman of the Adani Group, has achieved a significant milestone by reentering the top 20 on the...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here