On Thursday, gold futures on Comex were seen trading at $2514 per ounce.
Highlights
Gold futures reached $2514 per ounce. Gold price in Indore is Rs 73500 per 10 grams. Silver has reached Rs 85500 per kg.
Naiduniya Representative, Indore. Investors are waiting for the release of the latest FOMC minutes. Meanwhile, gold and silver prices have again seen an increase in the international bullion futures market. The market is currently assuming that the Federal Reserve’s future monetary policy will move towards interest rate cuts.
Gold and silver price in global market
On Thursday, gold futures on Comex were seen trading at $ 2514 per ounce and silver futures at $ 29.66 per ounce. Due to this, the prices of gold and silver continued to improve despite weak customer demand in the Indian markets.
Price in Indore bullion market
In Indore, gold Cadbury Cash jumped by Rs 100 to Rs 73500 per 10 grams and silver rose by Rs 400 to Rs 85500 per kg. Jewelers believe that during the July meeting, Federal Reserve officials had considered cutting interest rates. Then it was postponed. Now the possibility of cutting rates in September is increasing.
Geopolitical uncertainties and substantial global ETF inflows are also creating conditions for further upside in gold. Gold futures on Comex were seen trading at $2514, then $2506 and down to $2499 per ounce and silver was seen trading at $29.66, then $29.62 and down to $29.32 per ounce.
Indore closing price
Gold Cadbury Rava was quoted at Rs 73500 in cash (RTGS) 73500 Gold (91.60 carat) (RTGS) 67100 per ten gram. On Wednesday, gold had closed at Rs 73400. Silver Chaursa Cash 85500 Silver Chaursa (RTGS) 85500 Silver Tanchi was sold at Rs 85600 per kg and Silver coin at Rs 960 per piece. Silver Chaursa Cash had closed at Rs 85100 on Wednesday.
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