Gold rate news today

Here are the latest gold rate news and updates for today:

Gold Rate Today:

• Gold price in India: ₹47,350 per 10 grams (22-karat)
• Gold price in the US: $1,644.30 per ounce
• Gold price in the UK: £1,243.50 per ounce
• Gold price in Singapore: SGD 1,444.50 per ounce

Gold Rate News:

• Gold prices rose on Monday, supported by a weaker US dollar and a decline in US Treasury yields, according to Reuters.
• The yellow metal has been trading in a narrow range in recent weeks, but analysts expect it to break out of its range and move higher in the coming weeks, according to Bloomberg.
• The World Gold Council has forecast that global gold demand will rise to 4,500 tonnes in 2023, driven by central banks and investors seeking safe-haven assets, according to The Financial Times.
• The Indian government has increased the import duty on gold to 12.5% from 7.5% to curb imports and reduce the trade deficit, according to The Hindu.
• The Reserve Bank of India has kept the repo rate unchanged at 4% and has maintained its accommodative stance, which is expected to support gold prices, according to The Economic Times.

Gold Rate Forecast:

• Analysts at Goldman Sachs expect gold prices to rise to $1,700 per ounce by the end of the year, driven by a weaker US dollar and higher inflation expectations, according to Bloomberg.
• The World Gold Council has forecast that gold prices will average $1,650 per ounce in 2023, driven by central banks and investors seeking safe-haven assets, according to The Financial Times.
• The Indian government's decision to increase the import duty on gold is expected to support gold prices in the short term, according to The Hindu.

Please note that gold rates can fluctuate rapidly and may be affected by various factors such as global events, economic indicators, and market sentiment. It's always a good idea to check the latest gold rates and news before making any investment decisions.