Gold hits 2-month low in India. Check prices of yellow metal in Delhi, Ahmedabad and other Indian cities
Gold prices have fallen to the lowest point in two months due to optimism surrounding the debt ceiling deal and a hawkish Federal Reserve commentary. Gold was trading negatively on the MCX and Comex, despite growing strength in the Dollar Index. The US Fed may further reduce demand for bullion this month by increasing interest rates, and pricing support for gold will likely reside between $1,900 and $1,930. Current gold and silver prices range from approximately Rs 59,390 to Rs 73,100 per unit. Gold futures on the MCX are 7.92% higher YTD, while silver is up 2.09%.
Gold prices have fallen to the lowest point in two months due to optimism surrounding the debt ceiling deal and a hawkish Federal Reserve commentary. Gold was trading negatively on the MCX and Comex, despite growing strength in the Dollar Index. The US Fed may further reduce demand for bullion this month by increasing interest rates, and pricing support for gold will likely reside between $1,900 and $1,930. Current gold and silver prices range from approximately Rs 59,390 to Rs 73,100 per unit. Gold futures on the MCX are 7.92% higher YTD, while silver is up 2.09%.
