new Delhi. There was a slight softening in the prices of gold today and the morning business started with a decline. Gold remained cheap on the Multicommodity Exchange (MCX) while silver prices were showing a rise.
On MCX, the futures rate of gold fell by Rs 27 to Rs 51,420 per 10 grams at 9.35 am. Gold prices have fallen by about Rs 3,500 in the last few days. On MCX, the futures price of silver had increased by Rs 174 to Rs 68,050 per kg in the morning. Last week, the price of silver had come below 68 thousand and now it has reached more than this.
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Rapid growth in global market
Gold prices are showing a rise in other global markets including America, Europe. In the US bullion market, the spot price of gold was marginally higher at $ 1,926.85 an ounce. Silver also rose marginally and its spot price rose marginally to $ 25.04 an ounce.
gold price will increase
Experts say that once again the prices of crude have started showing an upward trend. The International Energy Agency (IEA) has said that 3 million barrels of Russian oil will stop coming to the market from next month. After this announcement, there was a jump of 7 percent in the prices of crude. Once crude becomes expensive, the demand for gold will increase once again and its prices may increase.
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guess what’s next
Market analysts say that after the end of the ongoing war between Russia and Ukraine, gold prices will fall sharply. Russia also has large reserves of gold and wants to sell it in the global market. If this gold comes in the market then its supply will increase and there can be a big fall in the prices.
Tags: 24 karat gold price, Gold Rate Today
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