Gold and Silver Prices Surge as Dollar Weakens and Fed Rate Cut Hopes Rise

Gold Silver Price Today: Gold prices are seeing a surge today due to a decline in the dollar index and expectations of a US Fed rate cut. Silver has also been trading in the green.

Gold Silver Price Today: Gold prices are seeing an increase today. Gold futures also traded in the green on the domestic futures market. On the MCX exchange on Wednesday morning, gold futures were trading 0.43 per cent, or ₹535, higher at ₹1,25,760 per 10 grams.

This rally in gold is being seen due to strong demand from the domestic spot market and expectations of a US Fed rate cut. Meanwhile, the dollar index has fallen to 99.60, a weekly low. A weaker dollar has made gold more attractive to other currencies, increasing demand. Global gold prices reached a two-week high on Wednesday.

Silver Prices Also Surge

Along with gold, silver prices are also witnessing a surge. Silver traded in the green on the domestic futures market on Wednesday morning. In early trade on the MCX exchange, silver was trading 0.91 per cent higher at ₹1,57,750 per kilogram.

Global Gold Prices Also Surge

Global gold prices are also seeing a rise today, Wednesday. On Comex, global gold prices were trading 0.45 per cent, or $18.80, higher at $4,196 per ounce. Gold spot was trading 0.67 per cent, or $27.82, higher at $4,158.51 per ounce.

Global Silver Prices

Along with gold, global silver prices are also witnessing an increase. On Comex, global silver prices were trading 1.34 per cent, or $0.68, higher at $52.31 per ounce on Wednesday morning. Silver spot was trading 0.83 per cent, or $0.42, higher at $51.89 per ounce.