Gold Silver latest price: Gold price rises again, find out today’s price | Gold Silver latest price MCX commodity market
Gold Rates | Over the last few months, the price of gold has been falling to a certain level. International gold prices have put pressure on gold prices, which have fallen below Rs 47,000.
The price of gold
Mumbai: The rupee’s strength against the dollar in international markets on Monday has had an impact on Indian futures markets. In the Multi Commodity Exchange Market (MCX), gold rose by Rs 23 to Rs 47,308 today. Silver also rose. As a result, silver rose by Rs 382 per kg to Rs 69,500 per kg. (Gold and Silver rates in Mumbai)
Will gold price reach Rs 52,000 by December?
Over the last few months, the price of gold has been falling to a certain level. International gold prices have put pressure on gold prices, which have fallen below Rs 47,000. However, gold prices are expected to rise again after the rise of the Delta Plus variant of the Corona. Therefore, experts are advising to buy if the price of gold falls further.
Gold is currently at a two-month low. At the Multi Commodity Exchange, gold has strong support at Rs 46,500. Gold was trading at 46,615 per ounce when the market closed on Friday. Therefore, the price of gold is very close to the support price. Once this level is reached, gold prices will start moving upwards again. Similarly, the Delta Plus variant of the Corona has added to the atmosphere of uncertainty. Therefore, gold prices are expected to touch Rs 52,000 by December.
India’s foreign exchange leak
While the Indian economy has been crippled by the Corona crisis, the country has been hit hard by a sharp fall in foreign exchange reserves. This effect is being seen due to the sharp fall in the gold rate. Foreign exchange reserves fell to 60 603.933 billion on June 18 from a record high of 14 4.148 billion.
The exchange rates of the euro, pound and yen in foreign exchange reserves are fluctuating sharply. Earlier, on June 4, Forex Reserves saw an increase. Even during the Corona crisis, India was trusted by foreign investors. As a result, India’s foreign exchange reserves had reached 600 billion.
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(Gold and Silver rates in Mumbai)
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