- Analiza
- Novosti i instrumenti
- Vesti sa tržišta
- India Gold price today: Gold falls, according to MCX data
India Gold price today: Gold falls, according to MCX data
Gold prices fell in India on Monday, according to data from India's Multi Commodity Exchange (MCX).
Gold price stood at 72,319 Indian Rupees (INR) per 10 grams, down INR 582 compared with the INR 72,901 it cost on Friday.
As for futures contracts, Gold prices decreased to INR 71,790 per 10 gms from INR 71,843 per 10 gms.
Prices for Silver futures contracts increased to INR 83,273 per kg from INR 82,813 per kg.
| Major Indian city | Gold Price |
|---|---|
| Ahmedabad | 74,965 |
| Mumbai | 74,760 |
| New Delhi | 74,870 |
| Chennai | 74,970 |
| Kolkata | 74,935 |
Global Market Movers: Comex Gold price cheers haven demand amid Iran-Israel conflict
- Iran's unprecedented direct attack on Israeli territory raised the threat of a wider regional conflict in the Middle East, which, in turn, assists the safe-haven (Comex) Gold price to regain some positive traction on Monday.
- Israeli officials are in favor of retaliation, though the US clarified that it will not take part in any offensive action against Iran, limiting any immediate market reaction and capping further gains for the XAU/USD.
- Investors pushed back their expectations for the first interest rate cut by the Federal Reserve to September from June following the release of hotter-than-expected US consumer inflation figures last week.
- Moreover, traders are now pricing in the possibility of less than two rate cuts in 2024 as compared to the three projected by the Fed, allowing the US Dollar to stand tall near its highest level since early November.
- The Fed's hawkish outlook, along with the bullish USD, might hold back bulls from placing aggressive bets around the precious metal ahead of the US data – Retail Sales and the Empire State Manufacturing Index.
(An automation tool was used in creating this post.)
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
© 2000-2024. Sva prava zaštićena.
Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.
Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.
Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.
Банковни транcфери
