On Monday, gold prices went up in India. This info comes from the Multi Commodity Exchange (MCX) in India.
The price for gold was 71,326 Indian Rupees (INR) for 10 grams. That’s INR 420 more than the price on Friday, which was 70,906 INR for the same amount.
If we talk about future contracts, the price for gold went up to 71,189 INR for 10 grams from 70,646 INR for the same amount.
Silver futures contracts also saw an increase in prices. They went up to 82,308 INR per kilogram from 81,026 INR per kilogram.
| Major Indian City | Gold Price |
|---|---|
| Ahmedabad | 73,850 |
| Mumbai | 73,640 |
| New Delhi | 73,785 |
| Chennai | 73,800 |
| Kolkata | 73,840 |
Global Market Movers: Comex Gold Price Recovers Some Lost Ground Amid Downbeat US Data
- In April, the number of new jobs in the US was 175,000, which was less than expected.
- The unemployment rate went up to 3.9% from 3.8% in March.
- People’s average earnings dropped a bit in April compared to March.
- The measure that shows how well the service sector is doing went down from 51.4 to 49.4 in April, which was lower than expected.
- A government official named Michelle Bowman said that prices for things might stay high for longer than many people think, and she might increase interest rates if prices don’t go down.
- Another official named Austan Goolsbee said that the job report for April was good and that the government’s money management might be tough.
- Many people think the government might lower interest rates in September to help the economy.
