Gold Price Today: Gold became so cheap before Akshaya Tritiya, check today’s price here
Today’s gold and silver price
Gold fell to its lowest level in almost two months. The strength of the dollar made greenback-priced gold less attractive to other currency holders.
Third day of Akshaya (Akshaya Tritiya 2022) will be celebrated on 3rd May this year. Gold on Akshaya Tritiya (Gold) and is considered an auspicious occasion to buy jewellery. If you also have a plan to buy gold on Akshaya Tritiya this year, then there is good news for you. in the last 10 days gold price ,Gold Price) has decreased by Rs.2,000. However, after falling at a two-month low of precious metals, the prices of gold and silver have increased in the Indian markets today in view of the global prices. On Thursday, on the Multi Commodity Exchange (MCX), the price of June futures gold has increased by 0.67 percent per 10 grams, while the price of May futures silver has increased by 0.52 percent.
Gold prices in the global market were flat today and this is the biggest monthly fall in bullion in seven months. Spot gold rose 0.1% to $1,897.01 an ounce. Experts attributed the fall in gold prices to the fear of aggressive interest rate hike by the Federal Reserve. This has led to a jump in dollar and US bond yields.
Earlier this week, gold fell to its lowest level in nearly two months. The strength of the dollar made greenback-priced gold less attractive to other currency holders. On Thursday, gold and silver closed with a mixed trend in the international and domestic markets.
New Gold-Silver Price (Gold Silver Price on 29 April 2022)-
On Friday, June futures gold on MCX rose by Rs 346 to Rs 51,608 per 10 grams, but it is still down by about Rs 2,000 per 10 grams from its high on April 18. On the other hand, the price of May futures silver jumped by Rs 998 to Rs 64,250 per kg.
US economy is in bad shape
In the first quarter, America’s GDP growth rate declined by 1.4 percent. The major reason for the fall in the growth rate is the jump in the trade deficit. For the first time since the year 2020, the US economy has shown negative growth. After the GDP report, there was a slight increase in the gold market, but there could not be much growth.
Gold demand decreased in the country
The rise in gold prices has reduced the demand for gold in the country. According to the World Gold Council (WGC) data, gold consumption in the country declined by 18 per cent to 135.5 tonnes during the March quarter. In the corresponding quarter of last year, the demand for gold in the country was 165.8 tonnes. The demand for gold in value declined by 12 per cent to Rs 61550 crore.