Gold prices fell in the MCX market on Friday night. Gold futures fell 0.6 percent. Rs per 10 grams. Closed at 50,984. Despite the fall in the pound rate, the May low of Rs. Looking at 49,700, the gold price is still at Rs. It can be said that they are moving above 1000. Gold prices declined in global markets on Friday. The main reason for this is that American job statistics are better than expected. Experts say the US Federal Reserve is likely to raise interest rates faster in the wake of job data. This has had an impact on gold prices. The US dollar also strengthened. Spot gold fell 1 percent. The ounce is trading at $ 1848.
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The U.S. released job data on Friday. Payrolls reached 3,90,000. However, a Bloomberg survey estimates that payrolls could be as high as 3,18,000. Also the unemployment rate remains stable at 3.6 per cent. Raising U.S. interest rates will have a negative impact on the price of gold. That is, it should be noted that the PSD rate goes down. The US Federal Reserve is expected to raise interest rates by 50 basis points in the next two sessions. However there are several factors that support the price of gold. Factors such as economic slowdown, inflation, and geographical tensions should be considered positive for the pound.
In Hyderabad, gold prices moved slightly higher this week. On Monday, May 30, the gold price per 10 grams to Rs. Was at 52,200. By the end of the week, the pound rate is Rs. Is at 52,470. This means that the pound rate is around Rs. 270 can be said to have moved upwards. This applies to 24 carat gold. The 22 carat gold rate is Rs. 47,850 to Rs. 48,100.
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