00:00In the domestic share market, the price of gold has fallen a lot, because investors have
00:08been careful before the two major events of this week, the US election and the Federal
00:12Reserve's policy declaration.
00:13Both of them are expected to bring a lot of change in the prices of the US dollar, bond
00:18yield and bullion.
00:19But the US presidential election will have a lot of impact on the domestic market as
00:26well as gold.
00:27How we will tell you in this video in detail.
00:32For today, MCX Gold is doing business at Rs 78,318 per 10 grams with a fall of 0.13%.
00:40In the international market, gold has done business with a slight increase, while the
00:44dollar index was close to the lower level of two weeks in the last session with a fall
00:50of about 0.5%.
00:51Because the price of gold is fixed in the dollar at a global level, the weak state of
00:58the US currency makes gold more attractive for other currency holders.
01:02If we talk about last week, then on October 31, bullion reached a record level of $ 2,790.15.
01:10On October 30, gold reached a record high of Rs 89,775 on MCX.
01:18And now everyone's attention is on the upcoming US presidential election.
01:22Opinion polls have shown that Democratic candidate Kamala Harris and Republican Donald Trump
01:27have a tough fight.
01:29In addition, a decision on the interest rate of the Fed is also coming.
01:33And according to reports, traders are expected to cut 25 BPS by 98%.
01:38Now China is also considered a prime factor affecting gold prices.
01:43Because this country is a major consumer of metals.
01:47According to one report, the Standing Committee of the National People's Congress in China
01:52is holding a meeting on November 4-8, which is expected to get approval from the market
01:57for good fiscal incentive measures at a high level.
02:00Experts say that gold and silver have received support at a low level due to a drop in non-agricultural
02:05payroll in the US.
02:08However, the safe haven demand for uncertainty and dollars in the US presidential election
02:14has also contributed to some profit bookings in precious metals.
02:18Experts also believe that the US presidential election, policy meetings of the Federal Reserve,
02:23and a drop in the dollar index are ongoing.
02:26And looking at geopolitical tensions, this week there will be a drop in gold and silver prices.
02:33However, if we talk about the weekly closing, then based on the weekly closing, gold and silver
02:38can remain at the level of $2,664 and $30.80 per troy ounce.
02:45So what is your opinion about the gold rate?
02:48Tell us in the comment box.
02:50And keep watching for such updates.
02:52Good returns.
02:53Don't forget to like and subscribe to our channel.
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