Today’s Gold Price, Gold Price Outlook and Gold Price Forecast: The gold rate on Wednesday is down, but the silver rate has increased by 0.10%. Gold June futures on Multi Commodity Exchange were trading at Rs 60 160 per 10 grams. This is an increase of Rs 101 or 0.17 percent. On MCX, silver May futures traded higher by Rs 71 to Rs 74 334 per kilogram.
Reuter reports that the yellow metal traded in a narrow range globally on Wednesday. Fears of recession fueled the demand for the safe-haven investment, and investors were looking to gain more insight into the Federal Reserve’s future rate hikes based on economic data expected this week from the United States. By 0307 GMT, spot gold remained at $1.997.40 an ounce. U.S. Gold Futures rose 0.2% to $2,008.60.
Gold hovers around $2000 mark
” The price of gold remained stable around $2,000 as investors maintained their cautious stance, and awaited more clarity from the upcoming U.S. economy data. The dollar index remained steady. Benchmark 10-year Treasury yields dropped by the largest amount since march, while short-term rates rose as investors weighed rising concerns over the regional banking system and possible growth slowdown against worries about the U.S. Debt Ceiling.
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