• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Gold Prices Soar To New High For Seventh Day In A Row

OMMCOM NEWS by OMMCOM NEWS
April 4, 2024
in Business
gold

New Delhi: Gold prices, on Thursday, soared to a new lifetime high of Rs 69,908 per 10 gm on India’s Multi Commodity Exchange (MCX) after the price of the precious metal scaled a new all-time high in the international market for the seventh consecutive trading day.

Gold futures contract on the MCX for June 2024 expiry opened at Rs 69,868 per 10 gm in morning trade, after which it soared to Rs 69,908 per 10 gm level following news of the precious metal scaling high of $2,323.70 per ounce in the international market.

Gold prices have now been scaling record highs over each of the last seven trading sessions. According to market experts, the latest surge came after US Fed Chairman Jerome Powell’s speech on Wednesday that appeared to confirm the interest rate cut in the near-term. Lower interest rates make investments in financial instruments less lucrative and this tends to trigger the switch to buying gold.

Gold prices have gained close to 11 per cent so far this year as it is seen as a safe investment amid geopolitical and economic uncertainty in the wake of escalating tensions triggered by the Israel-Hamas conflict and the Russia-Ukraine war.

Central banks of various countries, led by China, have also been buying gold in large quantities which has contributed to the price rise.

The demand for gold in the Indian market is fuelled by the need for the precious metal in weddings as it is gifted to brides and grooms in large quantities as jewellery. However, jewellers are of the view that the soaring gold prices are dampening this demand. This is also reflected in the declining imports of the precious metal, according to them.

(IANS)

Tags: GoldMulti Commodity Exchange (MCX)
ShareTweetSendSharePinShareSend
Previous Post

SC Sets Aside Bombay HC Order Cancelling Caste Certificate Of Maha MP Navneet Kaur Rana

Next Post

Mason Dies After Falling Into Open Drain In Cuttack

Related Posts

Business

Oil Purchases Serve Both National And Global Interests By Stabilising Prices: EAM Jaishankar

August 23, 2025
Business

56th GST Council Meet To Decide On 2-Slab Structure In Early Sep

August 23, 2025
Piyush Goyal
Business

Govt Giving Priority To National Interest In FTA Talks: Piyush Goyal

August 22, 2025
MeitY Secretary
Business

SEMICON India 2025 To Be South Asia’s Largest Platform For Semiconductor, Electronics Innovation: MeitY Secretary

August 22, 2025
Income Tax Bill 2025
Business

Govt Notifies Income-Tax Act 2025, Law To Come Into Effect From April 1, 2026

August 22, 2025
Reserve Bank of India
Business

RBI Appoints Indranil Bhattacharyya As Ex-Officio Member Of MPC

August 22, 2025
Next Post

Mason Dies After Falling Into Open Drain In Cuttack

Sunita Kejriwal

Address All Problems Of Delhiites: Cm Kejriwal's Message To All Aap Mlas From Tihar Jail Read Out By Wife Sunita

Let's Pray For The Toddler Stuck In Borewell: Karnataka Minister M B Patil

khimji
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.