Gold Price Today: There is pressure on gold and silver on COMEX due to inflation data. The price of gold has come near $2160 per ons. The price of silver has also fallen below $24.30 per ons.
Gold Price Today: There is strong action in the bullion market on Wednesday. Gold rates have slowed down due to inflation figures. Silver is also trading flat. The record rally of gold and silver has also been put on pause on COMEX. The effect of rising inflation in America is visible on the commodity market. Gold rate on MCX is trading with slight strength.
Gold and silver in domestic market
The rate of gold and silver is flat on MCX. Gold price is trading at Rs 65474 per 10 grams with a slight fall of Rs 7. The price of silver also fell by Rs 145 and was trading at Rs 73705 per kg.
Gold prices in foreign markets
There is pressure on gold and silver on COMEX due to inflation data. The price of gold has come near $2160 per ons. The price of silver has also fallen below $24.30 per ons.
Reason for decline in gold and silver?
The reason for the fall in the rates of gold and silver is inflation figures. February CPI inflation rate in America reached 3.2%, whereas the estimate was 3.1%. Even on monthly basis, CPI figures are higher than expected. Due to this, the probability of rate cut in June has come down to 60%. Due to this there is pressure on the bullion market.
