The festival of Akshaya Tritiya 2022 is going to come on May 3 this year. You all must know that Akshaya Tritiya is considered an auspicious occasion to buy gold and jewellery. In such a situation, if you also want to buy gold on Akshaya Tritiya this year, then there is good news for you. In fact, in the last 10 days, the price of gold has come down by Rs 2,000. However, gold and silver prices rose in the Indian markets today in view of the global prices after the precious metals fell to a two-month low.
On Thursday, on the Multi Commodity Exchange (MCX), the price of June futures gold has increased by 0.67 percent per 10 grams, while the price of May futures silver has increased by 0.52 percent. Let us also tell you that gold prices in the global market were flat today and this is the biggest monthly fall in bullion in seven months. While spot gold rose 0.1% to $1,897.01 an ounce. At the same time, experts attributed the fall in gold prices to fears of aggressive interest rate hikes by the Federal Reserve, as it boosted dollar and US bond yields.
Let us tell you that earlier this week, gold fell to its lowest level in almost two months. Yes, and the strengthening of the dollar made greenback-priced gold less attractive to other currency holders. On Thursday, gold and silver closed with a mixed trend in the international and domestic markets.
Today, ie on Friday, June futures gold on MCX rose by Rs 346 to Rs 51,608 per 10 grams, but it is still down by about Rs 2,000 per 10 grams from the high level of April 18. On the other hand, silver prices in May futures jumped by Rs 998 to Rs 64,250 per kg.
Let us tell you that in the first quarter, there was a decline of 1.4 percent in the GDP growth rate of America and the major reason for the decline in the growth rate is the increase in the trade deficit. With this, for the first time after the year 2020, the US economy has shown negative growth and after the GDP report, there was a slight uptick in the gold market, but there could not be much growth.
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