Gold Price Today: MCX gold rate trade above £ 1.13 lakh per 10 grams. Silver price drops 0.2% today

Gold prices opened on Multi Commodity Exchange of India (MCX) on Friday and on Friday detected weakness in global bases as the dollar strengthened. MCX gold rate for December -futures opened 0.06% lower to £ 1,13.795 per 10 grams compared to the previous closure of 1,13,871. MCX Silver Price opened 0.13% lower to 1,36,876 compared to the previous closure of £ 1,37.056 level. At 09:10, MCX golden rate traded lower by £ 29, or 0.03%, at £ 1,13,900 per 10 grams. MCX Silver rate was at £ 254, or 0.19%, at £ 1,36,802 per kg. In the international market, gold prices have fallen after the US economic data is stronger than expected, doubts about the Federal Reserve’s rate, which strengthens the dollar. Spot Gold Price fell 0.2% to $ 3,741.21 per ounce, although the metal has risen by 1.6% so far this week. US gold futures for delivery in December remained unchanged at $ 3,771.30. Spot Silver dropped 0.6% to $ 44.96 per ounce. The US Dollar Index hurled near a three-week high highlight, which made the bully of Greenback prices more expensive for overseas buyers. “Gold and silver showed and raised a very high price of volatility as the US dollar brought out to the optimal economic data, which reduced the bets on an imminent federal reserve rate cut. Kalantri, VP Commodities, Mehta Horse. Careful, balancing of resilient US growth at inflation risks and increasing trading tensions. Focus is now shifting on the US Price Index Data for Personal Consuming Expenses (PCE), the Fed’s preferred inflation measure, which is expected to show a 0.3% month to month increase and a year-to-year increase of 2.7% in August, according to a Reuters poll. Meanwhile, Fed policymaker Stephen Miran has advocated for aggressive rate cuts to protect the labor market, reducing inflation risks of rates, Reuters reports. Safe Haven bullying tends to perform well in a low-interest rate environment. Gold Price Outlook Kalantri said gold prices supported at $ 3,715 – $ 3.685, while resistance to $ 3,775 – $ 3.790. Silver Price has support at $ 44.40 – $ 44.00, while resistance to $ 45.35 – $ 45.60. “MCX Gold Price has support at £ 1,12,000 – £ 1,11,580, while resistance to £ 1,13,250 – £ 1,13,700. Silver price support at £ 1,36,450 – £ 1,35,750, while resistance to £ 1,37,850 – £ 1,38,600,” he added. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.