gold Silver
The price of gold fell by Rs 200 to Rs 98,670 per 10 grams in the bullion market of the national capital on Thursday due to continuous selling of stockists amid weak demand in foreign markets. According to the All India Bullion Association, the price of gold of 99.9 percent purity fell by Rs 500 to Rs 98,870 per 10 grams on Wednesday.
Meanwhile, gold with 99.5 percent purity fell by Rs 200 to Rs 98,200 per 10 grams (including all taxes) on Thursday. In the last session, it closed at Rs 98,400 per 10 grams. According to the association, silver prices fell by Rs 500 to Rs 1,10,500 per kg (including all taxes) on Thursday. Silver closed at Rs 1,11,000 per kg on Wednesday.
Saf haven caused disillusionment with safe haven
Chintan Mehta, Chief Executive Officer (CEO) of Abson Financial Services, said, “The demand for safe investment after the US-China tension was reduced after the AI chip ban and the demand for safe investment by President Donald Trump was close to the trade agreement with India.”
In the meantime, he said, Mexico and the European Union have been imposed a height of 30 percent. The possibility of further conversation about this kept the market fears under control. This has reduced the need for safe trade like gold, which is affecting prices.
Mehta said that however, comprehensive uncertainty stems from aggressive fees actions has been providing some underlying support, which limited the fall in gold.
Price also reduced in international market
Globally, the spot gold fell by $ 21.55 or 0.64 percent to $ 3,326.05 an ounce. AVP-Joint Research Kayanat Chanwala in Kotak Securities said, “Gold declined due to retail sales figures, employment figures and several Federal Reserve officials, including the vigilant stance by traders before American comprehensive economic figures, including speeches.”
According to the Vice President, Research Analyst (commodity and currency) Jatin Trivedi in LKP Securities, gold was trading below $ 3,330 per oux, due to the strength of US CPI inflation being stronger than $ 3,330 an $ 3,330 per ounce, which reduced the expectation of immediate cuts by Federal Reserve. Silver spot in the international market fell 0.11 percent to $ 37.86 an ounce.