DeFi Daily News
Saturday, May 10, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Finance Business Finance

Today’s Gold Rate Surge: Gold Climbs Rs 1,200 per 10 Grams, Silver Prices Increase by Rs 2,500 per Kg – Find Out Why

Shivendra Kumar by Shivendra Kumar
August 16, 2024
in Business Finance
0 0
0
Today’s Gold Rate Surge: Gold Climbs Rs 1,200 per 10 Grams, Silver Prices Increase by Rs 2,500 per Kg – Find Out Why
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


In the world of commodities, where volatility is the only constant, the allure of precious metals, particularly gold, continues to captivate investors’ imaginations. On a striking Friday that shall vividly be remembered by market participants, gold prices witnessed a notable surge, ascending by 1.7% or an impressive Rs 1,200 per 10 gram. This significant uptick in value was not an isolated event but rather a reflection of the broader currents flowing through the international markets.

As the clock ticked towards 8:20 pm, a particular sense of anticipation hung heavy in the air. The October gold futures on the Multi Commodity Exchange (MCX) were not merely trading; they were experiencing a rally, touching Rs 71,132 per 10 gram. This marked an ascent of Rs 996 or 1.42% over the previous close, a movement that could only be described as bullish.

On a parallel trajectory, silver, often deemed gold’s less glamorous sibling, was carving out its own path to glory. The September silver futures danced their way to Rs 82,222 per kg, showcasing a gain of Rs 2,161 or 2.7%. The dance reached its crescendo when today’s high touched Rs 82,584, accumulating a gain of Rs 2,523 or 3.1%. Such numbers not only reflect the market’s dynamism but also silver’s potential to surprise and, indeed, dazzle.

Across the waters, in the more international precincts of the Comex, gold futures held their ground at $2,528.10 per troy ounce. This was accompanied by a gain of $35.70 per troy ounce or 1.43%, signaling a coordinated upswing in gold prices on multiple fronts.

The day’s excitement found a voice in Jateen Trivedi, Vice President, Research Analyst – Commodity and Currency, at LKP Securities. According to him, the gold market’s upward momentum was underpinned by a notably positive movement on the Comex over the last two days. A potential easing of fears around a US recession, combined with an increased likelihood of interest rate cuts by the US Federal Reserve in September (and possibly up to three cuts by 2024), played a pivotal role.

This optimistic sentiment was cautiously echoed by market analysts far and wide. A Reuters report quoted Zain Vawda, market analyst at MarketPulse by OANDA, emphasizing the cautious optimism that prevails among gold traders this week. Recent US data has considerably lessened the chances of a 50 basis points interest rate cut in September, according to the report, injecting a renewed sense of confidence into the market’s veins.

This confidence isn’t unfounded. It draws from solid ground, notably recent data releases including the producer price index and consumer price index for July, that paint a promising picture regarding inflation dynamics. Such developments have not only reassured market participants but also bolstered optimism about the macroeconomic outlook.

For more in-depth analyses and up-to-the-minute updates on this rapidly evolving narrative, interested readers might find solace and enlightenment in visiting [DeFi Daily News](http://defi-daily.com), where the pulse of the global economy beats strong and stories like these are dissected with fervor.

These unfolding dynamics in the gold and silver markets bring to light not just the inherent volatility and opportunities within commodity trading, but they also reflect broader economic currents and investor sentiment. The dance of numbers and percentages, of hopes pinned on rate cuts, and of gold’s timeless appeal, all coalesce into a narrative that is as enthralling as it is significant.

Engaging with this narrative, one comes away with several impressions. Not least among them is the recognition of how intertwined global markets are with the policies of central banks, how sentiment can shift on the turn of a dime, and how gold, with its enduring allure, continues to hold sway over the imaginations and portfolios of investors worldwide.

In concluding this exploration, it becomes apparent that the saga of gold and silver prices is more than just a story of numbers. It’s a yarn spun from the threads of global economic policies, market sentiment, and the timeless human affinity for precious metals. As these elements intertwine, they create a tapestry that is as captivating as it is complex. And as always, the markets will continue to dance to the tune of global economic forces, with investors and analysts tuning in to every beat, every shift, and every possibility that lies ahead.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)



Source link

Tags: ClimbsfindGoldGramsincreasepricesRateSilverSurgeTodays
ShareTweetShare
Previous Post

Trump Selects Howard Lutnick, a Bitcoin and Tether Supporter, for Transition Team – Decrypt

Next Post

Gen Z protesters in Bangladesh grapple with governing after overthrowing leader

Next Post
Gen Z protesters in Bangladesh grapple with governing after overthrowing leader

Gen Z protesters in Bangladesh grapple with governing after overthrowing leader

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title with good SEO Best Crypto Presales Tapping Into the Stablecoin Boom

rewrite this title with good SEO Best Crypto Presales Tapping Into the Stablecoin Boom

April 6, 2025
Setting Up OpBNB RPC Nodes: Step-by-Step Guide to Creating an opBNB Node for Free Using Moralis Web3 API

Setting Up OpBNB RPC Nodes: Step-by-Step Guide to Creating an opBNB Node for Free Using Moralis Web3 API

June 27, 2024
rewrite this title Gate Dubai Secures Full VARA VASP Licence for Crypto Exchange Services

rewrite this title Gate Dubai Secures Full VARA VASP Licence for Crypto Exchange Services

April 29, 2025
Video: ‘Twisters’ | Breaking Down a Scene

Video: ‘Twisters’ | Breaking Down a Scene

July 19, 2024
NegRisk Surpasses CTF Markets as Polymarket Handles .4 Billion Transactions

NegRisk Surpasses CTF Markets as Polymarket Handles $1.4 Billion Transactions

September 3, 2024
China’s Plan to Destroy the Dollar (And It’s Kind of Working)

China’s Plan to Destroy the Dollar (And It’s Kind of Working)

April 14, 2025
rewrite this title Nuggets rebound, outlast OKC in OT for 2-1 lead

rewrite this title Nuggets rebound, outlast OKC in OT for 2-1 lead

May 10, 2025
rewrite this title with good SEO Court Convicts US Man in ISIS Crypto-Funding Case; Sentenced to Over 30 Years

rewrite this title with good SEO Court Convicts US Man in ISIS Crypto-Funding Case; Sentenced to Over 30 Years

May 10, 2025
rewrite this title and make it good for SEO Monad Announcing Monad Testnet-2

rewrite this title and make it good for SEO Monad Announcing Monad Testnet-2

May 9, 2025
rewrite this title Donald Trump Drops Cryptic Truth Social Post And People Have Thoughts | Celebrity Insider

rewrite this title Donald Trump Drops Cryptic Truth Social Post And People Have Thoughts | Celebrity Insider

May 9, 2025
rewrite this title Solana Price Analysis: SOL Price Approaches Major Resistance Around 1 Amid Altcoin FOMO

rewrite this title Solana Price Analysis: SOL Price Approaches Major Resistance Around $181 Amid Altcoin FOMO

May 9, 2025
rewrite this title PumpSwap hits 0M in TVL as memecoin launchpads see resurgence

rewrite this title PumpSwap hits $100M in TVL as memecoin launchpads see resurgence

May 9, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.