Today’s Gold and Silver Prices: Gold Sees Slight Increase, Silver Stable | Business Updates

Gold prices saw a marginal increase today, with MCX gold futures for June expiry up by 0.40 per cent at 71,010.00 per 10 grams. On the other hand, MCX silver futures for July expiry were down marginally by 0.03 per cent at 81.200 per kg.

The stability in gold prices comes after the US Federal Reserve decided to keep interest rates steady at 5.25-5.5 per cent and hinted at potential cuts in the future. Spot gold remained unchanged at $2,324.90 per ounce, showing a slight increase of 0.57 per cent. Meanwhile, US gold futures rose by 0.7 per cent to $2,327.60.

According to the Goodreturns website, the price of gold on May 2 stands at Rs 6,625 per gram for 22 karat gold and Rs 7,227 per gram for 24 karat gold (999 gold).

Gold has always been a favored asset for Indian households, considered a safe investment option. It is often seen as a hedge against inflation, making it a popular choice for investors looking for stability in uncertain times.

The rise in gold prices today reflects the ongoing economic uncertainties and the impact of global events on the precious metal market. Investors continue to monitor the situation closely to make informed decisions about their investments.