Gold Prices In India: After reaching a record high of Rs 61,145 per 10 gm on Tuesday on the Multi Commodities Exchange (MCX), the price of gold is further rising today. The yellow metal quickly reached a 13-month high on the international market after soaring to a record high on the MCX. It is important to note that the COMEX index for yellow metal also reached $2000 per troy ounce.

After an increase of Rs 950 per 10 kilos, the price of 22 K gold in India is now Rs 56,250 per 10 gram. After rising by Rs 1030 per 10 kilos, the price of 24K gold in India is currently Rs 61,360 per 10 gram.

After a significant increase of Rs 2490 on Wednesday, the price of 1 kilogram of silver in India is now Rs 77,090.

According to experts “Gold and silver prices have hit fresh high levels. Gold prices have hit levels of $2025/oz in the international market, silver at $25, while domestically gold prices have surpassed the level of Rs 61,000/10 gm level.”The primary reasons for the rally in the precious metals are the softening dollar index. The Dollar Index has fallen to a 2-month low as there is a widening belief that the Fed may not only pause but start slashing rates by the end of 2023. Being a safe haven, and often attracts investors’ interest in times of uncertainty and slowdown, low rates, added Colin Shah.

experts said, “The weak economic data like manufacturing activity and the job market are showing signs of an impending risk of a slowdown in the US economy. These developments will restrict the Fed’s ability to tighten rates and liquidity.”