Gold prices in India experienced a slight decrease on Tuesday, as reported by India’s Multi Commodity Exchange (MCX).
The price of gold was at 71,922 Indian Rupees (INR) per 10 grams, marking a decline of INR 287 compared to the previous day’s rate of INR 72,209.
In terms of futures contracts, gold prices saw a minor increase to INR 71,887 per 10 grams from the previous rate of INR 71,855 per 10 grams.
Silver futures contracts also saw a rise in prices to INR 85,180 per kilogram from INR 84,886 per kilogram.
Regional Gold Prices in Major Indian Cities
| Major Indian City | Gold Price (INR) |
|---|---|
| Ahmedabad | 74,520 |
| Mumbai | 74,230 |
| New Delhi | 74,250 |
| Chennai | 74,510 |
| Kolkata | 74,390 |
Global Market Movers: Key Factors Affecting Gold Prices
- Fed Vice Chair Philip Jefferson’s call to maintain current interest rates until there are clear signs of easing inflation indicates the cautious approach of central banks.
- Market expectations suggest a 25 basis points (bps) cut in the Fed funds rate by September and a potential 50 bps cut in 2024, reflecting concerns about the economic outlook.
- Geopolitical developments, such as the Israeli military actions in Gaza, add uncertainty to global markets and can influence investor sentiment.
- The upcoming US inflation data, including the Producer Price Index (PPI) and Consumer Price Index (CPI), will provide insights into the state of inflation and its impact on monetary policy.
Gold FAQs
Gold serves as a safe-haven asset, historically valued for its stability during turbulent times and its ability to hedge against inflation and currency depreciation.
Central banks worldwide hold significant gold reserves to enhance the perceived strength of their currencies and economies during times of economic uncertainty.
Gold’s price movements are influenced by various factors, including its inverse correlation with the US Dollar, economic indicators, and market sentiments.
Investors and central banks closely monitor gold prices in response to changes in geopolitical events, monetary policies, and global economic conditions.
Gold prices in India experienced a slight decrease on Tuesday, as reported by India’s Multi Commodity Exchange (MCX).
The price of gold was at 71,922 Indian Rupees (INR) per 10 grams, marking a decline of INR 287 compared to the previous day’s rate of INR 72,209.
In terms of futures contracts, gold prices saw a minor increase to INR 71,887 per 10 grams from the previous rate of INR 71,855 per 10 grams.
Silver futures contracts also saw a rise in prices to INR 85,180 per kilogram from INR 84,886 per kilogram.
Regional Gold Prices in Major Indian Cities
| Major Indian City | Gold Price (INR) |
|---|---|
| Ahmedabad | 74,520 |
| Mumbai | 74,230 |
| New Delhi | 74,250 |
| Chennai | 74,510 |
| Kolkata | 74,390 |
Global Market Movers: Key Factors Affecting Gold Prices
- Fed Vice Chair Philip Jefferson’s call to maintain current interest rates until there are clear signs of easing inflation indicates the cautious approach of central banks.
- Market expectations suggest a 25 basis points (bps) cut in the Fed funds rate by September and a potential 50 bps cut in 2024, reflecting concerns about the economic outlook.
- Geopolitical developments, such as the Israeli military actions in Gaza, add uncertainty to global markets and can influence investor sentiment.
- The upcoming US inflation data, including the Producer Price Index (PPI) and Consumer Price Index (CPI), will provide insights into the state of inflation and its impact on monetary policy.
Gold FAQs
Gold serves as a safe-haven asset, historically valued for its stability during turbulent times and its ability to hedge against inflation and currency depreciation.
Central banks worldwide hold significant gold reserves to enhance the perceived strength of their currencies and economies during times of economic uncertainty.
Gold’s price movements are influenced by various factors, including its inverse correlation with the US Dollar, economic indicators, and market sentiments.
Investors and central banks closely monitor gold prices in response to changes in geopolitical events, monetary policies, and global economic conditions.
