At the Multi Commodity Exchange (MCX), the price of gold has reached nearly Rs 4,000 less than its recent high. In fact, the price of gold on THE MCX closed at the level of ₹51,475 on Friday, which is 0.33 per cent less than the closing price of last Thursday. Earlier, the high level of gold was Rs 55,558 per 10 grams. According to commodity market experts, recently the US Fed has tried to raise interest rates by 25 bps and accelerate interest rates to ease inflationary pressures. This is having an impact on Sony's price.
On the other hand, experts say that the ongoing economic sanctions on Russia will increase the odds of supply chain and increase inflation. Due to this, gold buyers are advised to maintain 'buying on dips', as the price of MCX gold remains at the level of ₹48,800 today. Apart from this, he said that gold prices may see pressure in no time, but in the medium to long term, its impact will be positive.
The weekly prices of gold and silver have fallen in the Indian bullion market. In fact, the price of 24-carat gold has fallen by Rs 397 in this trading week. On the other hand, the price of silver has fallen by Rs 409. At the beginning of this business week (March 14 to 17), the rate of 24-carat gold was 51,961, which has come down to Rs 51,564 per 10 grams by Thursday. At the same time, the price of silver of 999 purity has come down from Rs 68,414 to Rs 68,005 per kg.
How much has the gold rate changed in the last one week?
March 18, 2022 - Market Holiday
March 17, 2022- Rs 51,564 per 10 grams
March 16, 2022- Rs 51,345 per 10 grams
March 15, 2022- Rs 51,521 per 10 grams
March 14, 2022 - Rs 51,961 per 10 grams
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