Saturday, July 13, 2024

Gold Price Today Rises After a Steep Fall in Previous Session; What Investors Should Do

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Gold price in India recovered on Tuesday after a significant drop in the previous session. On the Multi-Commodity Exchange (MCX), October gold contracts jumped 0.27 per cent to Rs 47,292 for 10 grams at 0930 hours on August 31. Silver price also gained on Tuesday. The precious metal price climbed 0.41 per cent to Rs 63,848 on August 31.

“Global stock markets were mostly firmer overnight. The US stock indexes are higher at midday. US trader and investor attention to start the trading week was on Hurricane Ida that pounded the Louisiana and Mississippi coasts Sunday and overnight. The final days of the US evacuations in Kabul, Afghanistan occur early this week, after last week’s terror attack that killed scores. Later this week comes the all-important US jobs report on Friday morning. The key outside markets today see the US dollar index slightly higher and still trending higher. Nymex crude oil futures prices are firmer and trading around $69.00 a barrel. Meantime, the yield on the benchmark US 10-year Treasury note is presently fetching 1.28 per cent,” said Amit Khare, AVP- Research Commodities, Ganganagar Commodities Limited.

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