Gold Rate Today: Buying gold became cheaper, know where the price of 10 grams reached

Gold has come down by Rs 139 to Rs 50,326 per 10 grams. In the last trading session, the yellow metal had closed at Rs 50,465 per 10 grams.

Gold has come down by Rs 139 to Rs 50,326 per 10 grams.

Gold fell by Rs 139 to Rs 50,326 per 10 grams in the Delhi bullion market on Friday amid softening prices of precious metals internationally. HDFC Securities gave this information. In the last trading session, the yellow metal had closed at Rs 50,465 per 10 grams. In the international market, gold was down at $ 1,665 an ounce. Whereas, silver was stable at $ 19.50 an ounce.

HDFC Securities Senior Analyst (Commodities) Tapan Patel said that gold has come down despite deepening concerns about the slowdown due to the increase in the policy rate by the US central bank Federal Reserve. Gold is generally considered a safe investment in the event of a recession.

Prices in futures trade

In futures trade, gold prices fell by Rs 140 to Rs 49,860 per 10 grams on Friday. On the Multi Commodity Exchange, contracts for October delivery were trading lower by Rs 140, or 0.28 per cent, at Rs 49,860 per 10 grams. This is for a business turnover of 6,315 lots.

Let us tell you that due to the tension between Russia and Ukraine, slowdown in the global economy and high inflation, gold prices may see a huge increase. It has been told in the report that according to experts, gold prices can touch the figure of Rs 55,000 this year. With this, gold can reach Rs 62,000 next year.

Let us tell you that the World Gold Council believes that the condition of the global economy at present, then there is every possibility of the demand for bullion in it.

Due to demand, prices in the domestic market are not expected to fall beyond a limit. On the other hand, if there is a change in foreign signals, a sharp rise in gold can also be seen in the coming time. Investment demand for gold has declined due to the rise in US dollar and Treasury yields, which has brought down prices. In fact, there are indications that the Federal Reserve will continue its aggressive stance on rate hikes. Even after the recent gains, there is no sign of weakness in the latest data of the US economy, due to which the Federal Reserve can focus its attention on controlling inflation.

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