Current Markets: Live Updates for Today May 17, 2024 Gold prices rise for a second week in a row, while silver hits an 11-year high.

Share Market Today Live Updates: Stay up to date on your favorite firms' stock movements by subscribing to Mint's market blog. You can stay up to date on everything Dalal Street and international markets with this blog.Live updates for today's share market: Watch the market summary for today! Follow the fluctuations of the Sensex and Nifty 50, as well as the top gainers and losers. View the performance of the US and Asian markets as well as the leading (or declining) sectors. Take a look at Mint's market blog to get up-to-date information about your favorite businesses. You can stay up to date on everything Dalal Street and international markets with this blog.Spot gold increased by 0.9% to $2,396.81 an ounce at 1304 GMT. Since Thursday, when prices reached a one-month high, gold prices have increased by 1.5% this week. Meanwhile, June delivery gold futures in the United States ended 0.4% down at 2385.50 an ounce.May 17, Reuters With renewed expectations for U.S. interest rate reduction, gold prices, helped by China's stimulus efforts, appeared set to record their second consecutive weekly increase on Friday. Silver broke through the $30 barrier to reach an 11-year high.By 1745 GMT, spot gold had increased 1.5% to $2,412.83 an ounce, drawing closer to the record high of $2,431.29 reached on April 12.The closing price of US gold futures was $2417.40 per ounce, up 1.3%."Despite (an increase in) the dollar and rates, gold is rising. Bart Melek, head of commodity strategies at TD Securities, stated, "I believe that in this case, the stimulus from China has been helpful because we're also seeing other (base) metals do very well."China, a significant buyer of both gold and industrial metals, announced "historic" moves to stabilize the crisis-hit real estate sector, which helped to bolster the market.

This week, spot gold prices have increased by more than 2%. The London Bullion Market Association (LBMA) said that the benchmark for London gold prices concluded the week at a record high of $2402.60-per troy ounce for gold. "Ultimately gold is responding to the idea that U.S. inflation is probably under control ... any talk of a prolonged period of high interest rates is going to be mitigated," Melek stated. Traders anticipate that the Fed will drop interest rates twice this year, most likely starting in November. FEDWATCH