Gold-Silver Rate Today: Huge jump in the price of gold and silver amid international tension, know the price of gold and silver today

Gold-Silver Rate Today In India: The effect of ever increasing US-Iran tension in the international market is now clearly visible on the Indian bullion market. Amidst this tense global environment, a huge rise in the prices of gold and silver has been recorded on Multi Commodity Exchange i.e. MCX on Tuesday.

The rising prices of gold and silver have increased the concern of those customers who are planning to invest. During this period, investors have preferred to buy heavily at falling levels, which has created a lot of volatility in the market.

For the last few days, there has been continuous fluctuation in the prices of precious metals in the global market, the impact of which is also felt in India. Rising crude oil prices have also strengthened the possibility of further interest rate hikes by the US Federal Reserve.

Generally, gold has always been seen as a very safe and excellent option to protect against rising inflation. But due to high interest rates, the attractiveness of these non-interest paying assets decreases, which creates a lot of pressure on gold.

latest price of gold

A very spectacular and huge increase in gold prices has been officially recorded on Multi Commodity Exchange (MCX) on Tuesday. On MCX, gold futures contracts for August delivery opened very strongly at Rs 1,40,949 per 10 grams, up 0.45%.

In the last trading session, this important closing level of 10 grams of gold was Rs 1,40,309, which has now reached much higher. Globally also, spot gold has increased by 0.3% to $ 4013.93 per ounce, which is big news for investors.

today’s price of silver

Along with the huge rise in gold prices, a very positive upward trend has been seen in silver prices today. In the MCX market, silver future contracts for September delivery opened 0.28% stronger at Rs 2,18,333 per kg.

Whereas in the previous trading session, the price of silver had closed at Rs 2,17,718, which has aroused huge interest among investors. However, there has been a slight decline in spot silver in the international market and it is trading at $ 57.69 an ounce.

Prices in major cities

This huge price of gold of Rs 1,40,949 per 10 grams recorded on MCX has also affected all the major cities of the country. Gold prices have also increased on the same basis in metropolitan cities like the country’s capital Delhi, financial capital Mumbai, Chennai and Kolkata.

There may be slight variation in the final prices of jewelery across the bullion markets of all these major cities due to local taxes and making charges. Before making any purchase, customers must check the exact and latest price of gold from the local jewelers of their city.

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Opinion of experts and investors

US Fed Governor Christopher Waller has shared his very important and expert opinion with the market regarding rising inflation. He has clearly said that if the upcoming figures show inflation much above the target of 2%, then big steps will have to be taken.

In such a situation, the central bank may have to increase interest rates in the near future, which will directly affect the prices of gold and silver. According to CME’s FedWatch tool, the probability of a US interest rate increase in September has now increased from 57% to about 76%.