Gold Rate Today: Gold prices have decreased on Tuesday due to the weakness in the dollar. Meanwhile, the market is also eyeing the Georgia elections and the Fed’s decision. On Monday, the bullion market saw a rise of up to 2.5 percent.
new Delhi. The price of gold has fallen on Tuesday after reaching an 8-week high. In fact, only after the Georgia election in the US, the path of the next Stimulus Package will be cleared in this world’s largest economy. That is why the dollar has come down on Tuesday. Gold was trading 0.2 per cent lower at $ 1,938.11 an ounce in the market. It had reached the highest level before reaching $ 1,945.26 an ounce on November 9. Gold in the US futures market also fell 0.3 per cent to $ 1,941.40 today Trading at per ounce.
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Is the price of gold rolled?
Experts say that even after reaching a two-year low, the dollar has strengthened in a single day. This is why the pressure on gold prices has increased. The biggest reason for Monday’s boom was due to the victory of the Democratic Party in the Senate election. Profit booking is also being seen to some extent.
in the dollar on Monday, the lowest level since April 2018. After this, the bullion market saw a rise of 2.5 percent. But, since then, the US currency is getting stronger.
Only after the results of the Georgia election will be decided which party will control the US Senate. The victory of the Democrats would mean that President-Elect Joe Biden would be able to easily implement his policies. Meanwhile, due to increasing Kovid-19 infection, strict lockdown has been imposed in England once again. The first case of a new UK strain of corona virus has also been reported in New York.
At the decision of the Fed
The market is now waiting for the minutes of the last meeting of the US Federal Reserve to be released. It will be released tomorrow i.e. Wednesday. With a rebound in the economy, it is expected that the policy will be moderate. However, it is expected that the Fed Reserve may indicate another monetary support amid growing transition to the US. At the same time, the phase of declining interest rates may increase slightly.
