Gold Price Today: There has been a huge jump in the prices of gold in recent times, due to which dealers are offering discounts on gold during the wedding season. Despite the wedding season, the price of gold has reached the highest level of 9 months at Rs 54,340 per 10 grams. Gold was trading at Rs 54,156 on MCX.
Despite the marriage season, the price of gold has increased from Rs 49,000 to Rs 54,300 per 10 grams in two months. Due to which the demand for gold has decreased. Means the price has increased by more than Rs 5000 per 10 grams in two months. In such a situation, dealers are offering a discount of $ 20 per ounce on gold. Gold is trading at $1793 per ounce in the global market. Due to the possibility of increasing the interest rate of the Federal Reserve and due to the macro economic development, gold remains the most preferred asset class of the investors. The Federal Reserve has a meeting again on December 14, in which a decision on interest rates is to be taken. After which there is a possibility of further rise in the prices of gold.
Meanwhile, gold fell by Rs 30 to Rs 54,305 per 10 grams in the Delhi bullion market on Friday. In the previous trading session, gold had closed at Rs 54,335 per 10 grams. However, the price of silver rose by Rs 558 to Rs 67,365 per kg.
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Dilip Parmar, Research Analyst, HDFC Securities, said, “Gold prices declined marginally in the domestic market due to a stronger rupee.” Navneet Damani, senior vice-president, Motilal Oswal Financial Services, said, “Gold prices declined amid a fall in the dollar index.” And there was a rise in the prices of silver. Investors are eyeing the decision to hike interest rates and key inflation data at the US Federal Reserve’s policy meeting next week.
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