Gold at all time high of ₹69,487. What is stoking the rally? Should you buy or sell?

Gold prices today: At 9:30 am, the MCX April gold futures were trading at ₹68,930 per 10 grams, up by ₹1,253 or 1.85%.

Published on: Apr 1, 2024, 09:51:31 IST

By HT News Desk

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Gold prices today: Gold prices hit a fresh lifetime of ₹69,487 today (April 1). With this, the yellow metal gained nearly ₹1,800 per 10 gram in the opening trade following cues from international prices. Gold rose to a record as the second quarter kicked off extending a rally driven by the Federal Reserve moving closer to rate cuts and deepening geopolitical tensions.

Gold and silver prices today: On Thursday, MCX Gold and Silver futures ended with gains with the April gold contract settling at ₹67,725.

What is the gold price today?

Positive international cues helping gold prices?

Gold prices rose as Dollar Index (DXY) hovered above the 104 mark against a basket of six top currencies at 104.33, down by 0.02 points or 0.02%. In the past five trading sessions, it has narrowed gains to 0.32%.

Why have gold prices been rising? Should you buy?

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Gold has been trading high amid geopolitical tension in the Middle East. The recent uptick in prices has been as it is hoped that the US Federal Reserve could bring a rate cut. In March, the prices have risen by 8.17% or ₹5,110 on MCX while on a year-to-date basis, the uptick is ₹4,474 or 7.08%. For the silver contract, the previous month’s gains stand at 4.75% while the year-to-date gains are at 0.83%.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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