https://www.instagram.com/vanessaclarkipaiThis is your Gold podcast.
Hey everyone, welcome back to Daily Gold Price Tracker with Vanessa Clark. I'm your host Vanessa, and today we're diving into the latest on gold prices as markets kick off this Thursday morning.
Right now, spot gold is trading around $4,834 per ounce, up about 0.5% from yesterday, with some reports showing it climbing as high as $4,845 on COMEX. That's according to fresh updates from Trading Economics and forex analysts. In India, MCX gold futures are strong too, hitting near Rs 1,54,700 per 10 grams, up 0.5%, while silver's outperforming with over 1% gains above Rs 2.54 lakh per kg. Locally in cities like Delhi and Mumbai, 24-carat gold is fetching Rs 1,55,500 to Rs 1,55,700 per 10 grams. Over in Indonesia at Pegadaian, Antam gold dipped slightly to Rp 2,959,000 per gram, down Rp 17,000 from yesterday.
What's driving this? A weaker US dollar around 98 is giving gold a boost, plus investors are eyeing US-Iran peace talks that could ease energy tensions and cool inflation. Crude's up too, with Brent over $95 a barrel, adding to the safe-haven buzz. Analysts like those at LKP Securities see gold ranging Rs 1,51,000 to Rs 1,56,000 short-term, while forecasts point to potential upside past $5,100 if support at $4,750 holds. Experts from Sprott Money note we're in a bull market, with gold above key moving averages despite recent volatility.
If you're tracking gold, watch those negotiations—they could spark more gains. A quick tip: consider buyback prices if selling, like Antam's Rp 2,587,000 per gram at Pegadaian.
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