Gold and silver have become cheaper, now you will have to pay only this much for 10 grams of 24 carat gold

Business News.  If you invest in gold and silver or are fond of jewellery, then this news may be important for you. On Friday, the prices of gold and silver opened with a decline on India's Multi Commodity Exchange (MCX). The price of gold fell by Rs 294 and it was trading at Rs 85,740 per 10 grams, whereas on the previous day it was Rs 86,034. There was a decline in the price of silver too. It was trading at Rs 97,809 per kg, down by Rs 332, while the previous closing price was Rs 98,141.

The price also fell in the international market

Gold prices also fell slightly in the international market, but it has maintained its gains for the week. On Friday, spot gold fell 0.3 percent to $2,900.48 an ounce. However, gold has registered an overall rise of 1.6 percent this week.

What will be the price going forward

There is uncertainty in the market regarding US President Donald Trump's tariff policies, due to which the demand for gold remains strong. Apart from this, US non-farm payroll data is awaited, which can be an important indicator related to the interest rates of the Federal Reserve.

impact of interest rates

Actually, gold is considered a safe investment against inflation, but when interest rates remain high for a long time, it can make gold lose its shine a bit. Federal Reserve Governor Christopher Waller has indicated that there is little chance of cutting interest rates this month. However, if inflation comes down, a cut may be possible by the end of the year. If you are investing in gold and silver, keep a close eye on the market trend. Possible changes in US policies and interest rates can also affect the Indian bullion market.