Gold Price Today: Due to the strength of the dollar, the price of gold has softened. Within a week, the rate of 24 carat gold has fallen by 0.16 percent. Meanwhile, the International Investment Banking Firm has given a big target on gold.
Gold Price Today: If you are planning to buy gold and silver jewelry or invest in this precious metal, then this is a good opportunity to buy. Because, the prices of gold and silver have been falling continuously for the last few days. Along with the fall in gold prices in the international market, the price of gold has also come down in India. The rate of 24 carat gold in India is Rs 71,494 per 10 grams while the rate of 22 carat gold is Rs 65,489 per 10 grams. In the last one week, the rate of 24 carat gold has fallen by 0.16 percent and the price of gold has increased by 0.08 percent in the last ten days. Silver is currently selling at Rs 822.78 per 10 grams.
Weakness in gold due to strength in dollar
The US dollar has reached a two-week high and this strength in the dollar is negative for gold. Manufacturing data in the US has come out poorly. At the same time, many other macroeconomic data are to come. These data will indicate how much the US Central Bank will cut interest rates this month.
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Market experts say that good news is needed to jump in gold prices. If the US economy looks weak in the US macro data coming this week, then gold prices can be seen rising. After the weak manufacturing data came on Tuesday, a slight rise is being seen in gold.
Will the price go up to 81000?
International investment banking firm Goldman Sachs has advised investors that gold prices are going to rise soon in the coming time, so keep faith in this precious metal. Goldman Sachs has revised its gold price target to $ 2,700 an ounce by early 2025, advancing its previous forecast on gold.
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