Big fall in gold prices
Gold Rate on 11 May 2022 Updates: Before the important figures of US inflation in the international markets, spot gold fell to a 3-month low today.
Gold Sliver Price in India: There is good news for those investing in gold. There has been a big fall in the price of gold on Wednesday. June Futures Gold Price on Multi Commodity Exchange (MCX)24 Carat Gold Price) is broken per 10 grams by 0.45 per cent. Fall in prices in India Sleep ,Gold Price) has come down to a three-month low. Silver declined like gold. July futures silver prices fell 0.35 per cent per kg. In March, gold had come close to Rs 56,000 per 10 grams in the Indian markets. Since then it has been under pressure. Gold is under pressure due to improvement in rupee’s price against dollar.
In times of political and economic crisis, gold is seen as a hedge against inflation and a safe storage. But is highly sensitive to rising short-term US interest rates, which increases the opportunity cost of holding zero-yield bullion.
Multi Commodity Exchange (MCX) But June futures gold fell by Rs 230 to Rs 50,356 per 10 grams. While July futures silver fell by Rs 214 to Rs 60,404 per kg.
|Date||city||22 karat gold (per 10 grams)||24 karat gold (per 10 grams)|
|11 May 2022||Delhi||Rs 46,750||Rs 51,000|
|Kolkata||Rs 46,750||Rs 51,000|
|Mumbai||Rs 46,750||Rs 51,000|
|Chennai||Rs 47,870||Rs 52,220|
|Bangalore||Rs 46,750||Rs 51,000|
|Hyderabad||Rs 46,750||Rs 51,000|
|Kerala||Rs 46,750||Rs 51,000|
|Ahmedabad||Rs 46,800||Rs 51,050|
Source: Goods Return