gold silver prices
Gold prices may remain stable to some extent in the domestic market next week. Experts said investors are keeping an eye on the meetings of major central banks and global business events. He said that investors will keep a special eye on the interest rate policy of the US Federal Reserve and the statement of Fed Chairman Jerome Powell.
According to Pranab Mer, Vice President, JM Financial, recently gold prices fell for the first time in ten weeks, PTI reported. The reason for this is profit booking by investors, weak demand in India and China and strong US dollar. He said buyers in India were buying less in anticipation of further price falls, while low prices in China and Singapore increased buying. Gold futures for December delivery on MCX fell by Rs 3,557. Prathamesh Mallya of Angel One said that this fall in gold was due to profit booking by investors and signs of improvement in US-China trade talks.
decline in gold and silver
Riya Singh, research analyst at MKA Global Financial Services, said, “Gold fell by more than six percent this week, its sharpest fall in a decade. This was mainly due to technical reasons, as prices could not hold above $ 4,300 an ounce. She said that optimism in the US-China trade talks and a strong dollar limited investment in gold. Riya Singh said that although prices have fallen, the long-term outlook of gold remains strong. Is. US budgetary deficit, central banks moving away from the dollar and geopolitical risks will remain positive for gold.
Silver also declined after the recent rise. Silver for December delivery on MCX fell by Rs 9,134 (5.83 percent). Silver fell by 3.02 percent in the international market. Riya Singh said that the long-term outlook of silver is strong, as demand is increasing in industries like solar energy and electric vehicles.