Gold Monthly Forecast: We believe the most anticipated US rate cut in decades will bring fresh impetus to gold prices. We have revised our gold forecast higher, and we now expect prices to average $2,700 in 2025.
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Gold Weakens in Highly Volatile Trade Amid Uncertainty over Interest Rate Cut
On Friday, spot gold was highly choppy and volatile in reaction to the US nonfarm payroll report (August) as the report sent mixed signals on the possible pace of rate cuts that are likely to begin at the September FOMC meeting to be concluded on September 18, 2024. Fed officials’ comments on the US monetary policy also added to volatility in gold prices.
Gold, silver price today on September 05 in Mumbai, Delhi, Chennai, Kolkata: Here are latest prices of your city
Gold and silver rates today, September 05, 2024
The 24-carat gold price in India was Rs 71,580 per 10 grams on September 05, 2024. The rate for 24-carat gold per gram is Rs 7,158. The rate of 22-carat gold was Rs 65,615 per 10 grams.
![What is the gold silver trading zone on MCX for today? [09 September, 2024]](https://www.goldsilverreports.com/wp-content/uploads/2023/09/Gold-Forecast.webp)
What is the gold silver trading zone on MCX for today? [09 September, 2024]
Ahead of the key US economic data and weakness in crude oil, Gold October futures contracts at MCX opened flat on Wednesday with a positive bias at Rs 71,250 per 10 gram, which is up by 0.1% or Rs 125 while silver December futures contracts were trading at Rs 82,768/kg, down by 0.08% or Rs 505.
Gold and Silver Prices Today on 03-09-2024: Check Latest Rates in Your City
Gold And Silver Prices Today: Gold prices saw a slight decrease on Tuesday. The cost of 24 carat gold is Rs.7329.9 per gm down by Rs.242.0. The cost of 22 carat gold is Rs.6714.2 per gm down by Rs.222.0.
The price change in 24 carat gold in the last one week has been -0.86%, whereas in the last month it has been -3.89%.
फेड ब्याज दर में कटौती: निकट भविष्य में सोने की कीमतों पर इसका क्या असर होगा? विशेषज्ञ इस पर विचार कर रहे हैं
रिपोर्टों के अनुसार, 2017 से प्रत्येक सितम्बर माह में सोने में गिरावट देखी गई है, इस माह में औसतन 3.2 प्रतिशत की गिरावट आई है – जिससे यह वर्ष का सबसे खराब प्रदर्शन करने वाला महीना बन गया है, जो मासिक औसत 1 प्रतिशत की वृद्धि से काफी कम है।
Gold Weekly Forecast: Gold Investors Await US Labor Market Data
Financial markets in the US will remain closed in observance of the Labor Day holiday on Monday. On Tuesday, the ISM Manufacturing Purchasing Managers Index (PMI) for August will be featured in the US economic docket. Investors expect the headline PMI to edgehigher to 47.8 from 46.8 in July. A reading above 50, which would suggest that the business activity in the manufacturing sector recovered back into the expansion territory, could provide a boost to the USD with the immediate reaction and weigh on Gold.
The price of gold is rising due to Chinese demand for the precious metal
Yellow Metal (Gold) is consolidating within a mini-range above its prior range. It is now debatable whether the short-term trend is still bullish – it could now be characterized as “sideways”.
Spot Gold Nears All-Time High
Spot Gold climbed above $2,510 an ounce on Thursday, hitting a record high, as prospects of interest rate cuts by the Federal Reserve continued to support the yellow metal while investors awaited fresh cues on the extent of the cuts.
Gold Nears Record high as Fed lowers Fuel Rate Cut Expectations
Spot Gold hovered near all-time highs on Thursday as minutes from the U.S. Federal Reserve’s latest meeting cemented expectations of a September interest rate cut, with traders now awaiting Chair Jerome Powell’s speech for insights on rate outlook.