After the Federal Reserve’s statement, the increase in US bond yield has put pressure on gold. The price of gold has fallen from the December high of Rs 48,700.
Today’s gold and silver price
Today gold and silver in the Indian markets on Monday, the first trading day of the week.Gold, Silver Price) declined. February futures gold price on the Multi Commodity Exchange (MCX) on Monday (Gold Price) broke 0.23 per cent per 10 grams. Whereas March futures silver price (Silver Price) registered a decline of 0.32 percent. Gold was flat in Friday’s session while silver had gained 0.4 per cent. Let us inform that after the statement of the Federal Reserve, the precious metal, hurt by the increase in US bond yield, has fallen from its December high of Rs 48,700.
In global markets, gold rose to $1,795 an ounce, but was lower than January’s high of $1,831. US job growth was slower than expected last month, while the Federal Reserve signaled a faster rate hike, pushing gold prices higher from Friday’s lows.
New Gold/Silver Price (Gold/Silver Price on 10 January 2022)-
On Monday, February futures gold on MCX fell by Rs 109, or 0.23 per cent, to Rs 47,343 per 10 grams. At the same time, the price of March futures silver fell by Rs 192 or 0.32 per cent to Rs 60,415 per kg.
Recently, the Federal Reserve has announced a hike in interest rates from March. The US dollar benefited from this decision of the Fed, while it has put pressure on gold. In August 2020, the all-time high in gold had reached Rs 56,200 per 10 grams.
Opportunity to buy cheap gold from today in the new year
Meanwhile, Sovereign Gold Bond Scheme 2021-22 – Series IX is open for subscription from today. The RBI said on Friday that the issue price of the next installment of Sovereign Gold Bond Scheme 2021-22, which will open for subscription for five days from Monday, has been fixed at Rs 4,786 per gram.