Soaring Gold Prices Trigger A Selloff - Dollar Advisory | Best Commodity Tips Provider

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Soaring Gold Prices Trigger A Selloff

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Gold prices are heading northwards prompting consumers to sell the yellow metal to generate cash. Spot gold prices in the India market rose by 2.29 per cent to Rs 33,751 per 10 gm (without GST), while prices went up by 2.5 per cent to touch a high of Rs 33,920 per 10 gm during the day from earlier closing of Rs 33,079 per 10 gm for the August contract. Internationally, gold prices surged 2 per cent to their highest level in more than five years after the US Federal Reserve signaled possible rate cuts later this year.

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