Gold and silver prices restarted toying with renewed highs during Friday morning deals on assertive US inflation
In the event of strong US inflation figures and the US Fed rate cut the gold rate today mounted to a fresh peak in the domestic and international markets. Comex gold price today jumped to a fresh lifetime high of $2,412 per troy ounce while the spot gold price touched a new high of $ 2,395 per ounce during early morning deals.
Silver prices also ascended to a new peak during the early morning session on the Multi Commodity Exchange (MCX). MCX gold rate today hit a new lifetime high of ₹72,678 per 10 gm while MCX silver rate today touched a new high of ₹84,102 per kg within a few minutes of the commodity market's opening bell.
Expecting further upside in the gold and silver prices, Sugandha Sachdeva, Founder of SS WealthStreet said, “Looking ahead, both gold and silver appear to have a positive trajectory for 2024, with some corrective rallies along the way that seem to entice buying interest yet again
Gold and silver prices restarted toying with renewed highs during Friday morning
Profit booking may affect returns in the short term, but the outlook remains largely optimistic for both metals. Geopolitical uncertainty continues to swirl around owing to high-stakes elections in several major economies, and the proposed three rate cuts by the US central bank during the year could influence price dynamics and keep gold and silver prices well supported
Field group
fieldgroup is an Indian company established in 2011 that provides solutions on Printing, Book Printing, Offset Printing, information technology, software solutions, web design, Application development, consultancy, e-commerce solutions, publication, and business process services. It is headquartered in Chennai, Tamil Nadu, India.
