On the 7th consecutive trading day, there has been a decline in the price of gold in the country’s capital Delhi. The special thing is that in these 7 days, the price of gold has seen a decline of more than 3200 rupees. There are many reasons behind the fall in the price of gold. In which the decline in the dollar index, decrease in inflation, decreasing Economic and Jio Positical tension, decrease in Iran Israeli tension and decrease in demand of safe haveon are believed to be an important reason. According to the experts, the way Iran and Israel are rigging and America is supporting Israel. At the same time, Iran is resumping its nuclear program again. It seems that the middle East may see an increase in tension once again. In such a situation, the prices of gold can be seen. Let us also tell you how much gold prices have been done in Delhi?
Gold became cheaper again in Delhi
According to the All India Bullion Association, the price of gold in Delhi, the capital of the country, fell by Rs 200 to Rs 97,470 per 10 grams on Monday. The price of gold with 99.9 percent purity was Rs 97,670 per 10 grams on Friday. Continuing to fall in the price of gold for the seventh consecutive day, the price of gold with 99.5 per cent purity declined by Rs 150 to Rs 97,050 per 10 grams (including all taxes). In the last trading session, it closed at Rs 97,200 per 10 grams.
The price of silver also fell by Rs 200 to Rs 1,02,800 per kg (including all taxes) on Monday. Silver closed at Rs 1,03,000 per kg on Friday. Meanwhile, gold futures supplied in the multi -commodity exchange increased by Rs 520, or 0.54 percent, to Rs 95,990 per 10 grams. On the global front, the spot gold rose $ 12.06 or 0.37 percent to $ 3,286.31 an ounce.
Gold is becoming cheaper continuously for 7 days
| date | How much reduction in the price of gold ,Rupee per 10 Gram, |
| 19 june | 150 |
| 20 june | 600 |
| 23 june | 160 |
| 24 june | 900 |
| 25 june | 200 |
| 26 june | no changes |
| 27 june | 930 |
| 30 june | 200 |
| Source , All india bullion union | |
Why is gold becoming cheaper?
- There is a steady decline in the dollar index. The special thing is that the dollar index has seen a decline of one and a half percent in about a month.
- Not only India but in other countries of the world, there has been a decrease in inflation. The reason for this is the fall in crude oil prices. Which has come from $ 78 to $ 67 per barrel.
- On the other hand, there has been a lot of lack of economic and geo positative tension. Due to which there has been a decrease in the price of gold.
- Apart from this, there has also been a decrease in Iran Israeli tension. For the past one week, both countries have honored the ceasefire. The effect of which has been seen in gold prices.
- On the other hand, gold is seen as safe haven. In recent times, there has been a decrease in the demand of this safe havan. Because of which gold has become cheaper.
What do you say?
Chintan Mehta, Chief Executive Officer (CEO) of Abson Financial Services, said that there is pressure on gold due to the reduction of geopolitical and economic uncertainties. Progress on stress decreasing in West Asia and progress on trade agreements with the US is decreasing immediate needs of assets safe investment. Mehta said that apart from this, inflation concerns are decreasing due to the fall in crude oil prices, which is further decreasing the attraction of gold in the form of prevention of inflation.