Gold price rebounds from 6-week low. Is it an opportunity for bargain buying?4 min read . Updated: 10 Sep 2022, 06:21 AM IST
- Gold rate today is standing at strong support of $1,680 levels in spot market, believe experts
Gold rate today: Despite hawkish rhetoric of various US Fed officials, spot gold price bounced back after hitting its six week low of $1,680 per ounce. Gold future contract for the month of October 2022 finished ₹165 higher at ₹50,521 per 10 gm levels on Friday, ending its three weeks losing streak. In spot market, precious bullion metal finished at 1,716 levels, logging 0.45 per cent intraday gain on the weekend session. Reason for this rise in gold rates can be attributed mainly to ease in dollar index after the surprise 75 bps interest rate hike by the European Central Bank (ECB). After hitting the 20-year high of 110.78 levels, dollar index finally settled at 108.945 on Friday.
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