Gold Price Today: Gold opened with a rise at the level of 72677, silver remained soft

Gold opened with a rise in the Indian bullion market today. Silver opened with a decline. On Friday, the price of gold opened at the level of Rs 72677. Whereas it closed at Rs 72586 the previous day. The price of silver opened with a decline at the level of Rs 91252 per kg. Whereas in the previous trading session it closed at the level of Rs 91665 per kg.

The spot gold rate in Delhi bullion market closed at Rs 72,550 per 10 grams on the previous day. The price of silver also increased by Rs 900 to Rs 92,300 per kilogram.

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June 21, 2024 11:54 IST

How has been the performance from January till now this year

Nifty up 8.45%

Banknifty 7.23%

Sensex 7.25%

Gold 14.87%

Silver 22.97%

The greenback’s rally, driven by rising geopolitical tensions and recent weak US data, has pushed the wait for a longer rate cut from the Federal Reserve. Despite the greenback’s rally, gold prices on COMEX rose more than 1% on Thursday. The greenback strengthened against the British pound after the BOE kept the bank rate steady as expected, but hinted that a rate cut is coming. Gold prices are at a two-week high and are set for a second consecutive weekly gain as last week’s data revealed a slowdown in the labor market and price pressures, followed by weak retail sales data on Tuesday indicating that economic activity is expected to remain sluggish during the second quarter. The focus will now be on the upcoming PMI index. The rising possibility of an Israel-Hezbollah war could push prices higher.

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