- Analiza
- Novosti i instrumenti
- Vesti sa tržišta
- India Gold price today: Gold rises, according to MCX data
India Gold price today: Gold rises, according to MCX data
Gold prices rose in India on Wednesday, according to data from India's Multi Commodity Exchange (MCX).
Gold price stood at 72,343 Indian Rupees (INR) per 10 grams, up INR 410 compared with the INR 71,933 it cost on Tuesday.
As for futures contracts, Gold prices decreased to INR 72,350 per 10 gms from INR 72,407 per 10 gms.
Prices for Silver futures contracts increased to INR 95,950 per kg from INR 95,448 per kg.
| Major Indian city | Gold Price |
|---|---|
| Ahmedabad | 74,840 |
| Mumbai | 74,635 |
| New Delhi | 74,730 |
| Chennai | 74,910 |
| Kolkata | 74,810 |
Global Market Movers: Comex Gold price faces some pressure from hawkish Fedspeak
- Israeli Prime Minister Benjamin Netanyahu has vowed to continue the war against Hamas amid international condemnation of an air strike that killed at least 45 people in Rafah on Sunday, per the BBC.
- The World Gold Council reported that global physically-backed gold exchange-traded funds (ETFs) witnessed a net outflow of 11.3 metric tonnes last week.
- UBS analysts expect gold prices to reach $2,500 an ounce by September and hit $2,600 an ounce by year-end. The forecast is higher than the initial estimates of $2,400 and $2,500 per ounce, respectively.
- Consumer Confidence improved slightly in May, the Conference Board reported on Tuesday. The figure rose to 102.0 in May from 97.0 in April, beating the estimation of 95.9.
- Fed Governor Michelle Bowman said on Tuesday that she would have supported either waiting to start slowing the quantitative tightening pace or a more moderate tapering process than announced earlier this month.
- Fed Minneapolis President Neel Kashkari said that the central bank should wait for significant progress on inflation before cutting interest rates, adding that he expected no more than two rate cuts in 2024.
(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
