The gold price gives back the advance from earlier this month as the Trump administration outlines a three-phased approach to reopen the US economy, with Minneapolis Fed President Neel Kashkari, a 2020-voting member on the Federal Open Market Committee (FOMC) stating that the plan “seems consistent with the advice and the feedback that we’ve heard from health experts”.
Gold prices today continued their uptrend today for the second day in Indian markets. On MCX, June gold futures rose 1% or ₹464 to ₹46,631 per 10 gram, after a nearly 2% or ₹850 gain in the previous session. Silver today saw sharper gains, rising 2.3% or ₹931 to ₹42,647 per kg.
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Recently, the price has headed higher, bringing down the gold-silver ratio, the all-important indicator of how many ounces of silver would be needed to buy an ounce of gold.
Gold Silver Reports – The U.S. central bank slashed rates by 50 basis points, cutting rates outside the normal cycle of meetings for the first time since 2008. Speculation is rife that the European Central Bank will respond to the Fed’s “decisive” interest rate cut with easing of its own.
इस साल चांदी (Silver) में 23 फीसदी की तेजी दर्ज आ चुकी है. जानकार बताते हैं कि चांदी में अभी और तेजी देखने को मिलेगी और अगले 5-6 महीने में चांदी ₹54,000 — ₹56,000 रुपये/किलोग्राम के पार चली जाएगी.
Gold Silver Reports (GSR) – Silver on MCX settled up 0.52% at 40170 as the dollar dropped as the prospects of a Sino-U.S. trade deal improved investors’ appetite for riskier assets.