Gold-Silver price today (July 11, 2024); Gold rate jumps to Rs.72,870 per 10 gm, Silver rate at Rs.93,519 per kg

Domestic yellow metal prices rose on Thursday, while white metal futures increased dramatically.

MCX gold futures (Aug 5) were up 0.28%, or Rs 202, to 72,870 per 10 gm. On the other hand, MCX Silver futures (September 5) traded 0.74 percent higher, or Rs 687, at Rs 93,519 a kg.

Spot gold rose 0.1% to $2,373.35 per ounce in early trading today, while the Bloomberg Dollar Spot Index stayed steady. Silver’s price climbed up to around $31 per ounce. Gold gained for two days, with markets pricing in a September interest-rate cut from the Federal Reserve after Chair Jerome Powell told Congress that he believes inflation is slowing.

Following a 0.3% increase in the previous session, the precious metal traded over $2,370 as Jerome Powell concluded his second day of testimony in Washington. Powell stated that the central bank does not require inflation below 2% before cutting.

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