Gold's Price Swings
Gold prices displayed fluctuations. Initially, the price rose ₹10 to ₹1,02,070. Further changes saw climbs to ₹1,02,450 and ₹1,02,610. However, a dip to ₹1,01,500
was noted, followed by a climb to ₹1,04,950, and finally a drop to ₹1,01,610, showcasing the volatility of the market.
Silver's Price Action
Silver exhibited contrasting movements. It initially dipped ₹100, trading at ₹1,19,900. It later saw a further drop of ₹100. Then, a ₹100 fall was observed, and a subsequent rise of ₹100 occurred. Finally, a surge of ₹2,000 led to a fresh peak of ₹1.20 lakh per kg.
Oil Price Dip
Oil prices dipped after a significant rally due to supply concerns originating from the Russia-Ukraine situation. This indicates the interconnectedness of global markets and how political events affect commodity prices, including precious metals.
US Data & Fed
Gold's record rally is being tested. The focus is now shifting towards U.S. economic data and expectations of Federal Reserve rate cuts. These factors are expected to influence gold's future trajectory. This data will provide insights to market trends.
Refiners & Russian Oil
Indian refiners are planning to reduce purchases of Russian oil. This decision is being influenced by the impending higher U.S. levies. This move signifies changes in trade dynamics and impacts the flow of commodities in the global market.
