Federal Reserve News, 19 July 2023: Gold prices eased on Wednesday from a 1-1/2-month high touched in the previous session, dragged by a slightly stronger dollar, even as investors bet that recent U.S. economic readings make the case for a pause in the Federal Reserve’s rate-hike stance.
The price of gold decreased by ₹10 per gram as compared to Friday’s price. As per Goodreturns, the price of 22 carat gold stood at ₹5,580 per gram. Meanwhile, the price of 1 gm of 24 carat gold was ₹6,087, a decline of ₹11 as compared to Friday’s rate.
Bullion Market Forecast: Gold gained as the dollar continued to retreat from a record high ahead of US inflation data that could bear on the Federal Reserve’s monetary policy.
MCX Gold Price Forecast: Commodity prices traded mixed with bullion prices declined for the week witnessing selling in the second half of the week. Base metals ended in green on tight supplies and China stimulus hopes. Crude oil prices traded higher gaining on lower supplies and expectation of OPEC output cut.
Gold Silver Tips Today Rocking, Gold Silver Pani Pani: Commodity prices traded mixed on Tuesday, after a weak trading session in the previous day.
Gold prices today slip in Indian markets while silver extended decline to the third straight day, tracking lackluster global cues. MCX gold futures were down 0.32% to ₹48,520 while silver was off 0.4% to ₹72,073 per kg.