Gold price decreases after witnessing a surge on Tuesday
March 22, 2023 10:26 ISTGold prices decreased by Rs 600 in a single day.
Gold prices decreased by Rs 600 in a single day.
Gold prices saw an increase of Rs 1000 in 24 carat and 22 carat Gold.
The Financial Services and Markets Authority (FSMA) asks the firms to comply with the new set of rules for advertisement by May 17, 2023.
Gold price today: Gold prices remain constant after dropping on Saturday. However, different cities saw changes in the prices.
Gold prices today: On Tuesday (14th March), the cost of 24 carat gold (10 grams) was recorded at Rs 57,220, whereas 22 carat gold (10 grams) was priced at Rs 52,450.
The CEO of CryptoQuant, a leading cryptocurrency data provider, has announced that there is currently a significant buying pressure on three of the most popular cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB).
On Monday (13th March), the price of 24 carat gold (10 grams) was Rs 55,670, whereas 22 carat gold (10 grams) was priced at Rs 50,990.
This time, it is unlikely that the Coinbase premium reflects stronger buying pressure from investors in the United States, which is usually the case.
Gold price in India increased by Rs 540 per 10 grams to reach Rs 56,070 on March 11, 2023. This rise in gold prices is due to the strengthening of the global demand for the precious metal. In contrast, the price of silver fell by Rs 200 per kilogram to reach Rs 70,800 due to a decrease in demand.
Bitcoin has fallen below the $20,000 mark as the crypto market's 2023 rally came to a halt. The sudden downturn is the latest in a series of wild fluctuations in the digital asset's value, which had seen it reach all-time highs earlier this year.
The price of gold in India on Thursday, March 10, was recorded at Rs. 55,290 for 24 carat gold (10 grams) and Rs. 50,460 for 22 carat gold (10 grams).
According to the Fed chair, a determination regarding the magnitude of the rate hike scheduled for March has not been finalized yet.
USDT's dominance in the stablecoin market exceeded 54%, marking its highest point since November 2021.
New rules for selling gold: To safeguard consumers from fraudulent activities and guarantee consistent standards of gold quality nationwide, the Indian government has implemented a mandatory HUID-based hallmarking system for gold jewellery and artefacts.
In early February, the price of gold reached its highest level since April 2022, but it quickly changed direction. Due to the anticipation of more rate hikes, buoyed by robust economic data, bullion has fallen by over 5% this month.
According to Bart Melek, who is the Head of Commodity Markets Strategy at TD Securities, despite having support at $1,806, gold prices have been declining due to higher-than-anticipated inflation, and the economy has remained robust.
The cryptocurrency market is experiencing a decline as investors are taking on less risk. Today, the entire crypto market is in the red with most digital currencies experiencing a dip in value. This shift in investor sentiment towards risk has led to a sell-off of crypto assets.
The cryptocurrency market has seen a mix of gains and losses, with Bitcoin holding steady near $24,500 and Solana surging over 12%. Other major cryptocurrencies, including Ethereum and Cardano, have experienced slight declines.
The US Bureau of Economic Analysis has reported solid growth of 2.7% in the second reading of the fourth-quarter Gross Domestic Product, slightly lower than the initial estimate of 2.9%, while personal consumption contributed to the latest downward revision, as it increased by 1.4%.
The recent strength of the US dollar and the possibility of a more hawkish monetary policy from the Federal Reserve has put pressure on gold prices.
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