Gold Price Today and Silver Price Today on Upswing After US Fed Meeting Speculations
Market Overview: Gold and Silver Rally
The gold rate today and silver rate today have experienced strong buying momentum, resulting in a notable rise in prices. The spot gold price closed at $2,507 per ounce, reaching a peak of $2,509.72, marking a weekly gain of 3.13%. On the other hand, silver outperformed gold, finishing at ₹83,213 per kg with a remarkable rise of 3.31% over the week.
Factors Influencing Price Movements
Several factors are driving the surge in gold and silver rates:
- US Fed Rate Cut Speculations: Following robust US job data, expectations for a rate cut in the upcoming US Fed meeting have increased, placing pressure on the US dollar rate.
- Geopolitical Tensions: Ongoing issues in the Middle East are also bolstering the demand for precious metals.
Gold vs Silver: Which is the Better Investment?
As the forecast for both metals shows potential, many investors are weighing options between gold vs silver: which is better? While gold maintains its traditional value, silver has recently outshone its rival. Analysts from the commodity market advise consideration of individual investment goals and market trends before making a decision.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.