The process of falling gold continues. On June 10, there was a major decline in gold in both the country and abroad. Spot gold slipped 0.6 per cent to $ 3,307.72 an ounce in the international market. The US Gold Futures fell 0.8 per cent to $ 3,327.50 an ounce. Here, the Commodity Exchange MCX in India saw a major decline in gold futures. At 11:45 pm, the Gold Futures fell by Rs 455, or 0.47 per cent to Rs 96,718 per 10 grams.
Ever watching the conversation of America and China
Experts say that there is a negotiations between the US and China in London regarding the tariff. The first day’s conversation is reported to be good. On the other hand, the dollar index has been strengthened. It has risen 0.3 percent. In second currency due to strengthening of the dollar Gold Buying becomes expensive. This affects the prices of gold. Experts say that if the conversation between the US and China is successful, then the glow of gold may fade.
If inflation increases in America, gold can change
Analysts are also eyeing the data of inflation in American. This data will come on 11 June. KCM Trade Chief Market Analyst Tim Waterr said that if the inflation in the US increases more then it will increase the demand for gold. This can show a surge in its prices. Gold performance is usually better when there is a situation of turmoil in the world. The glow of gold also increases in the environment of reduced interest rates.
Gold prices reached record high in April
The results of the US-China negotiations on gold prices will affect. If there is a deal in both countries, then the pressure on gold may increase. In such a situation, the seeds can slip below $ 3300. In April, Gold set a new record of height. The price then reached $ 3500 an ounce. Akshant Kamboj, Vice President of India Bullion and Glievers Association, said its prices are falling despite the continuous purchase of central banks. Now the eyes are on the US-China conversation and the data of inflation in the US.
ALSO READ: Gold Loan: Will Gold Loan be available only after showing the receipt of buying gold jewelery? Know what is the truth
Short term pressure may continue
Short term may cause a fall in gold prices. In such a situation, the price can go below $ 3300. Investors need to monitor the results of the US-China conversation and the data of retail inflation in the US. Gold returns have been excellent in the last 1-2 years. It has given more returns than other asset classes. This year i.e. in 2025, gold has been performed well so far.