After the last crisis, the Fed pegged the interest rate for one-day maturity at near zero. Throughout its various rounds of Quantitative Easing, most critics expected rising, if not skyrocketing, consumer prices. And the commonly-accepted remedy is for the Fed to raise interest rates. So in Dec 2015—exactly seven years after it pegged it at zero—the Fed began to hike the rate. Over a period of three years and a month, it pushed the Fed Funds Rate up to 2.4%.
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Commodity News – Real-time Accurate MCX Commodity Market News and forecast for today. Best commodity market online tips through whatsapp and telegram by Neal Bhai.
Gold Below $1562, MCX Below 41840 Buy Karna Mana Hai – Neal Bhai
The rate of 10 gram 22-carat gold in Mumbai was Rs 36,535 plus 3 percent GST, while 24-carat 10 gram was Rs 39,886 plus GST. The 18-carat gold quoted at Rs 29,914 plus GST in the retail market.
Gold Prices Slip over ₹5,000 per 10 gm in Just 6 Days
Gold prices continued to decline in domesticmarkets, extending their recent fall. MCX Gold futures fell 1.2% or ₹480 to ₹39,037 per 10 gram. Gold had shed about ₹5,000 per 10 gram in previous fivesessions, falling from ₹44,500 levels.
देश में 109% तक बढ़ेगी गोल्ड की रिसाइक्लिंग
गोल्ड की रिसाइक्लिंग – वर्ल्ड गोल्ड काउंसिल की एक रिपोर्ट भी बताती है कि सोने के आयात में 2018 की तुलना में 2019 के आखिरी महीनों में गिरावट देखी गई है। यही नहीं अप्रैल 2019 से जनवरी 2020 के बीच सोने के आयात में 9 फीसदी गिरावट हुई है। यह स्थिति तब है, जब भारत दुनिया में सोने का सबसे बड़ा इम्पोर्टर है।
Silver Prices Also Advanced Today
Silver Prices Also Advanced Today – One positive case of coronavirus has been detected in New Delhi, and one has been detected in Telangana, the Indian government said in a statement. “Both the patients are stable and being closely monitored,” it added.
MCX Gold Akshaya Tritiya Target ₹ 48,500
Jewellers Association Expected, Gold prices may touch Rs 48,500 by Gudi Padwa or Akshaya Tritiya as the spread of coronavirus affected global economy, Rupee depreciation and easing by central banks.
Gold Looks a Pretty Good Bet over the Medium Term
Spot gold fell 2.9% to close at $1,529.83 an ounce in New York, ending the week with a loss of 8.6%, the most since March 1983. On the Comex in New York, futures had their steepest weekly decline since 2011. In other markets, silver fell into a bear market, joining palladium and platinum as worries over economic fallout from the coronavirus pummel precious metals and other raw materials.