Gold price hits record high: The price of gold and silver is touching the sky. After making a new lifetime high in the global market, gold price on MCX is at a new record in the domestic market too.
Gold Price Today Record High: The new financial year has started from today. Meanwhile, gold prices (gold price today) have reached a new record high. The price of gold and silver is touching the sky. After making a new lifetime high in the global market, gold price on MCX is at a new record in the domestic market too. The price of gold on Multi Commodity Exchange has reached the level of 68890.
Today , the price of gold on Multi Commodity Exchange is at the level of Rs 68890 per 10 grams with an increase of 1.76 percent. Apart from this, the price of silver is also up by 1 percent at Rs 75801 per kg. Gold prices opened with a rise in the domestic market. At the same time, Gold has touched a new record level as soon as it opened.
Effect of Fed’s soft stance
Due to the soft stance of the Federal Reserve in America, gold prices have reached new record levels in the global market as well as in the domestic market. The price of gold in the global market today is at a new lifetime high of $ 2,259 per ounce.
What are the reasons for the rise in gold prices?
At present, geopolitical tension is increasing in Central Asia, due to which gold prices are rising. The effect of the ongoing war between Russia and Ukraine in Europe is visible on gold prices. Apart from this, tension is continuously increasing after Hamas’ attack on Israel.
Amidst all these factors, gold is also getting support from the signals coming from the Central Bank Federal Reserve. In the recent discussion, the Federal Reserve has indicated three cuts in this financial year. At the same time, in India also RBI can cut repo rates about 2 times.
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