what is the price of gold today 24 carat : May 16, 2025

what is the price of gold today 24 carat : May 16, 2025

Today gold price: The domestic futures market saw a decline in gold prices as a result of decreased trade war threats and currency volatility. Due to profit booking,international gold is expected to see its biggest weekly drop in six months.

Today’s gold price: Friday morning saw a decline in gold prices on the domestic futures market as demand for the safe-haven asset was still impacted by the dollar’s volatility relative to its peers and waning trade war concerns. Around 9:15 AM,MCX Gold June 5 contracts were down 0.41 percent at ₹92790 per 10 grams.

Also Read : what is gold price today 24 carat : May15, 2025

According to Reuters,global gold prices were on the verge of their biggest weekly drop in six months.

Following the US’s announcement of trade agreements with China and the UK,as well as its indication that it may soon finalize agreements with a number of other important trading partners,gold prices have experienced profit booking this month.

In addition to reducing concerns about the trade war, declining anticipations of rate cuts by the US Federal Reserve are also exerting pressure on gold prices.

Reuters reports that Federal Reserve Governor Michael Barr stated Thursday that although inflation is getting closer to the central bank’s 2 percent target, the US economy is still doing well. However, there is now a great deal of uncertainty due to US trade policies.

It was the smallest yearly increase in US consumer prices in four years. Following a 0.1% decline in March, the US Consumer Price Index rose 0.2% in April. The CPI increased 2.3% year over year,the least amount since February 2021. The US CPI increased 2.4% year over year in March.

Up until the 15th of May, domestic spot gold prices fell by 2%. The yellow metal is still up more than 21% this year,though.

Global gold prices have dropped to their lowest point in a month. The Russia-Ukraine war, the US-China tariff tensions, and the volatility of the equities markets are some of the factors that have caused bullion rates to rise, but they all seem to be abating. The vice president of the India Bullion and Jewellers Association (IBJA) and executive chairperson of Aspect Global Ventures,Aksha Kamboj,noted that this has also affected bullion prices in the Indian market.

“Higher bond yields in the US and the tempering down of rate cut expectations by the US Federal Reserve could put further pressure on global gold prices,which may affect prices on the MCX too,”Kamboj stated.

However,Kamboj thinks the price decline is good for Indian gold buyers and those who want to make long-term investments in real gold,particularly in advance of the wedding season.

Disclaimer: The sole intention of this story is education. The opinions and suggestions expressed above are not those of bharatbulletin24x7.com,but rather those of individual analysts or broking firms. Since situations can change and market conditions can change quickly,we suggest clients to consult with qualified specialists before making any investment decisions.