Commodities
Gold Prices Rise on Reduced Interest Rate Pressure
The price of gold and silver has seen an increase on September 22nd. On MCX, gold is trading at ₹153223 per 10 grams, with a 0.08% increase from yesterday's closing price. The price of silver has also increased by ₹783 to ₹240100.
These increases are attributed to the decrease in crude oil prices, which has reduced pressure on the Federal Reserve to raise interest rates. This development has positively affected gold prices, as lower interest rates tend to increase demand for gold.
In addition to MCX, international markets have also seen fluctuations in gold and silver prices. On COMEX, gold prices decreased by 0.10% to $4,379 per ounce, while silver prices increased by 0.10% to $66.48 per ounce.