NEW DELHI: The price of expensive metals has picked up sharply as the US central bank signalled an interest rate cut by the Federal Reserve. Gold prices in the international market jumped more than $1,395 per ounce on Thursday. Silver, on the other hand, registered a gain of nearly two per cent.
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On Thursday, the International Futures Market came in at a three-month high of 1,385.15 dollars per ounce, while gold prices jumped to 1,395.35 dollars per ounce, up from 36.35 dollars a barrel on Thursday. Silver was trading at 15.27 dollars per ounce, up 2.11 percent in July.
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At the same time, gold and silver prices in the international market will rise sharply on Thursday in the Indian bull market. He said gold and silver had already been bullish in the international market due to rising investment trends against expensive metals, but gold prices were hit hard by signs of interest rate cuts in the Us after the Fall of the Fed meeting on Wednesday.