Gold Hits New High in Indian Market Amidst Trade Uncertainty, Rupee Weakness

Chennai: Gold prices touched 1,04,550 RS per 10 gm in the Delhi spot market and 1,02.155 RS on the Multi Commodity Exchange as a weak rupee. Gold rose in the international market, but it was still lower than record levels.

In the international market, Gold won the highest $ 3397 dollars per day per ounce. Yellow Metal, on April 21, the highest of all time touched for $ 3500.

Ajay Keda, Indian imports and Brazilian goods targeting new tariffs, global trade outage of new tariffs that play the fear of the global trade outage of the global trade cuts, “the gold returned on Thursday and increased tariff tensions and increasing federal reserve rate deductions climbed,” he said.

At the same time, the US data and a cooling labor market have strengthened market bets in a Fed section in September. Although the market has already reduced the September ratio deduction, he added that any segment should further support it.

In the Indian market, he saw the weakness of the Rupin, gold prices to make new summits. Gold also made a new height two days ago. However, at 1,15,417 RS per kg, silver prices were still lower than 1,16,641 RS on July 23 than the highest levels of all time.

As the uncertainties continue, there is a place to increase gold prices to 1.04,500 RS in MCX within a month. The disadvantage is that the basic support will be 98,600 RS.