Gold Price prediction:- Changes are being seen in the prices of gold and silver every day. Gold rates are rising very fast. Along with gold, there is a continuous rise in the prices of silver as well. There has been a constant fluctuation in the prices of gold and silver in the last week. The prices of gold and silver are going to fluctuate once again. On the MCX, gold prices experienced a decline during the trading week from August 18 to August 22. According to the India Bullion and Jewellers Association (IBJA), 24-carat gold was priced at Rs 1,00,023 per 10 grams on August 16, which had decreased to Rs 99,358 by August 23. There was a decline of Rs 665 in the price. IBJA releases gold rates after 12 noon. It is worth noting that gold remains below its record high level, set in the first week of August. At retail stores, the price of 24-carat gold remains between Rs 1,01,000 and Rs 1,02,000 per 10 grams. Most people use 22-carat gold to make gold jewellery.
Experts predict that the price of gold on MCX will be recorded between Rs 96,000 and Rs 1,02,000 per 10 grams in the coming days. At the same time, silver prices are expected to remain between Rs 1,09,000 and Rs 1,16,000 per kg. However, the demand for gold and silver increases significantly during festival days.
Currently, the price of 24-carat gold is Rs 1,01,620, and the cost of 22-carat gold is Rs 93,150 per tola. Apart from this, the price of 18-carat gold is Rs 76,210 per 10 grams. Gold prices across all carats have risen by 2%.
In the last 10 days, the highest single-day rise in 24-carat 10-gram gold was witnessed on August 23, when it rose by Rs 1,090 to Rs 1,01,620. The price remained unchanged on August 24.
Mumbai Gold Price
the price of 24-carat gold is ₹ 1,00,52,000 and 22-carat gold is ₹92,140 per 10 grams.
Kolkata Gold Price
The price of 24-carat gold is ₹ 1,00,52,000, and 22-carat gold is ₹92,140 per 10 grams.
Bhopal Gold Price
the price of 24-carat gold is ₹ 1,00,57,000 and 22-carat gold is ₹92,190 per 10 grams.
Pranav Mer, Vice President of JM Financial Services, has stated that “even if gold prices remain stable for some time, their trend is expected to remain positive.” He said that the comments of US Federal Reserve chief Jerome Powell have increased expectations of an interest rate cut in the September meeting. “Markets will closely monitor the Russia-Ukraine peace process and the imposition of additional duties on India’s oil purchases from Russia from August 27,” Meer said.
The brokerage believes gold is correcting on Comex and may find support around $3,280. Silver is likely to remain stable between $36.20 and $38.90. In the domestic market, gold is expected to trade within a broad range of 96,700-1,02,000, while silver is likely to remain stable between 1,09,000-1,16,600.