Abdul Rimaaz Business Consultant

gold price chart

Know the current gold price

Higher rising prices & increased geopolitical threats propelled gold prices higher in March, resulting in the second month of gains. Over the month, the LBMA Price Of Gold AM in dollars (USD) and the MCX gold price per gram UK in rupees (INR) increased by 1.1 percent and 1.7 percent, respectively. 


However, the market’s sentiment began to improve in the middle of spring, spurred by purchases for festivals and weddings and consumer perceptions of a higher gold price chart. As a result, the national discounted price was reduced to US$12/oz by the mid of April, representing a significant reduction. 


What is The Consumer Price Index?


The Consumer Price Index (CPI) increased to a 17-month high in March, as well as the yield on the 10-year Indian government bond increased to a 33-month high. 


The Consumer Price Index (CPI) in India rose to a 17-month record in Mar (up 6.95 percent year on year), owing to rising foodstuff & commodities costs. Due to the government’s borrowing plans exceeding markets’ expectations, the return on India’s 10-year bond fund jumped to a 33-month high during the month. 


Based on forecasts for volatile and increased crude oil prices, international logistics disruptions, and stronger input cost-push factors, the RBI upped its inflation projection for 2022-23 to 5.7 percent from 4.5 percent in April. The fiscal policy meeting panel opted to maintain the current level of accommodating policy but suggested that further rate hikes may be necessary to react to the track of consumer price inflation. 


What is the Retail consumption?


Retail demand was sluggish throughout March, as customers postponed purchases in expectation of a drop in the price of gold, which eventually occurred. The absence of weddings during the month contributed to the decline in demand. Because many retailers and manufacturers are closing their books before the end of the fiscal year, wholesale purchases by manufacturers and retailers were modest in March. As a result, official gold imports into India were 15.8 tonnes, 90 percent lower year on year and 80 percent lower month on month. 


In our nearly half a century in the gold price, we have assisted thousands of investors in adding metals to their portfolios – safely, economically, and with the investor’s objectives in mind. From the tiny investor just getting started to the relatively high diversification of a multi-million cent portfolio, we have assisted thousands in adding physical gold price chart to their holdings.

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