Gold price gave a surprise..!? Good opportunity during Diwali..!

Gold prices have continued to decline in international markets amid a strong dollar and bond market rally. It is not only in futures trading but the price of physical gold is also witnessing a decline. It is also seen as a perfect opportunity for investors and gold enthusiasts as the prices have come down during the festive season. The first day of diwali in india is celebrated as Dhanteras. This festival, which Hindus celebrate very critically, is also seen as an auspicious day to buy gold and silver. As the value of the US dollar continues to rise, the bond market is also booming. Due to this, it is expected that investments in gold, which is a non-interest-bearing investment, may decrease. gold prices touched $2000 an ounce last March. Meanwhile, it touched Rs 55,000 per 10 grams. So compared to that it has seen a reduction of 5000 rupees.
Meanwhile, the Federal Reserve bank of America is expected to increase the interest rate by 75 basis points in the upcoming meeting. As the US job market is also strengthening, this may have an impact on the gold prices above. However, inflation remains a concern during this period as well. So the interest rate can be increased to control inflation. This is expected to have an impact on gold prices. However, the value of the indian rupee against the dollar is on the decline. This is expected to cause fluctuations in the price of gold. The price of gold in the international market has decreased by 12.25 dollars per ounce and is seen at 1624.35 dollars. gold prices opened today lower than last session's closing price. It also broke the last session's low. So it is expected that the price of gold may decrease slightly in the medium term.In the international market, silver prices fell by 1.59% to $18,395. silver started today lower than the last session's closing price. However, the low price of the last session did not break the high price. Therefore, it is seen that the price of silver may decrease in the medium term. While the price of gold has decreased slightly in the international market, the price of gold has also decreased in the indian market. Currently, it is trading at Rs 49,888 per 10 grams, down by Rs 255. It started today lower than the last session's closing price. So it appears that the price of gold may decrease slightly in the medium term.While gold prices have fallen slightly in the international market, jewelry gold prices have seen a slight decline.

In chennai today, the price of jewelry gold fell by Rs 20 to Rs 4,665 per gram and Rs 160 per gram to Rs 37,320.
22 carat gold price (10 grams) in chennai today - Rs.46,650

Mumbai - Rs.46,250
Delhi - Rs.46,350
Bangalore - Rs.46,300
 Coimbatore, Madurai, and other major cities - Rs.46,650.

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