Gold at all time high of ₹69,487. What is increasing the rally? Should you buy or sell?
Gold prices today: The MCX April gold futures were trading at ₹68,930 per 10 grams, up by ₹1,253 or 1.85%.
Gold prices today: Gold prices hit a fresh lifetime of ₹69,487 today (April 1). With this, the yellow metal gained nearly ₹1,800 per 10 gram in the opening trade following cues from international prices. Gold rose to a record as the second quarter kicked off extending a rally driven by the Federal Reserve moving closer to rate cuts and deepening geopolitical tensions.
What is the gold price today?
The MCX April gold futures were trading at ₹68,930 per 10 grams, up by ₹1,253 or 1.85%. At the same time, May silver futures were trading at ₹75,787 per kg, higher by ₹739 or 0.98%.
Positive international cues helping gold prices?
Gold prices rose as Dollar Index (DXY) hovered above the 104 mark against a basket of six top currencies at 104.33, down by 0.02 points or 0.02%. In the past five trading sessions, it has narrowed gains to 0.32%.
On Thursday, MCX Gold and Silver futures ended with gains with the April gold contract settling at ₹67,725. They hit a lifetime high of ₹67,859 on Thursday while May silver contract ended flat at ₹75,044.
Why have gold prices been rising? Should you buy?
Gold has been trading high amid geopolitical tension in the Middle East. The recent uptick in prices has been as it is hoped that the US Federal Reserve could bring a rate cut. In March, the prices have risen by 8.17% or ₹5,110 on MCX while on a year-to-date basis, the uptick is ₹4,474 or 7.08%. For the silver contract, the previous month’s gains stand at 4.75% while the year-to-date gains are at 0.83%.
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