Gold and Silver Price in MP: Gold prices reached close to Rs 67000 due to possibility of interest rate cut in June. Achi-News

Price of Gold and Silver in MP: Rep. Naiduniya, Indore. International bullion futures market Gold futures jumped again, driven by strong expectations of a possible interest rate cut by the Federal Reserve in June. On Thursday, gold was once again seen trading at $2200 per ounce on Comex, as gold has achieved another new high in Indore. On Thursday, gold touched Rs 66950 per ten gram near Rs 67000 in Cadbury cash. Compared to Wednesday, an increase of around Rs 125 per ten gram was recorded. While in RTGS, gold was quoted at Rs 68600 per ten grams. Gold Cadbury was sold for Rs 67000 in Ujjain bullion market.

Traders have started to show interest in buying gold ahead of more cues on US inflation and interest rates. Due to Good Friday on March 29, the international bullion futures market will remain closed, as speculators have seen good interest in buying gold. On the other hand, there was a partial fall in the price of silver due to weak buying. In Indore, Chaurasa silver fell marginally to Rs 74,400 per kg in cash, while silver futures on Comex were seen trading up 21 cents at $24.72 an ounce.

Gold prices recovered most of their losses this week. At the same time, the strength of the dollar, which was near the highest level in a month, is also pushing the price of gold towards an all-time high. On Comex, gold was seen trading above 2200 and lower at $2187 per ounce and silver higher at $24.72 and lower at $24.42 per ounce.

Gold and silver closing prices in Indore

Cadbury Rava Gold was quoted at Rs 66950 in cash, gold (RTGS) at Rs 68600 and gold (91.60 carat) at Rs 62840 per ten gram. On Wednesday, gold had closed at Rs 66825. While, Chandi Chaurasa was quoted at Rs 74400, Chandi Tunch at Rs 74550 and Chandi Chaurasa (RTGS) at Rs 75100 per kg. On Wednesday, silver had closed at Rs 74450.