gold price
After the rise of five consecutive days, there was a decline in gold prices in the country’s capital Delhi. Where gold prices have seen a decline of Rs 900. At the same time, the price of silver has come down by Rs 1000. According to experts, there has been a decrease in gold and silver prices due to reduced political tension and selling from investors. According to the expert, the meeting of Trump and Putin to be held in Alaska will decide a lot in the prices of gold. If the talks of Trump and Putin are successful, then Ukraine Russia War will decrease and gold prices will be low. If the talks between the two state heads fail, then the price of gold will be increased. Let us also tell you how much gold and silver prices have gone.
Gold prices fall
In the country’s capital Delhi on Monday, gold prices fell down by Rs 900 to Rs 1,02,520 per 10 grams after a rise of 5 days. According to the All India Bullion Association, gold with 99.9 per cent purity rose by Rs 800 to Rs 1,03,420 per 10 grams on Friday. Gold with 99.5 per cent purity, which had reached the highest level of Rs 1,03,000 per 10 grams in the last session, fell by Rs 900 to Rs 1,02,100 per 10 grams (including all taxes) on Monday. In five sessions till Friday, this yellow metal prices have increased by Rs 5,800 per 10 grams.
Silver also rolled
According to the All India Bullion Association, the price of silver declined by Rs 1,000 to Rs 1,14,000 per kg (including all taxes) on Monday. On Friday, the price of silver closed at Rs 1,15,000 per kg. Till Friday, silver prices had increased by Rs 5,500 per kg in the last five days. In the global market, gold in New York fell by $ 40.61 or 1.19 percent to $ 3,358.17 an ounce. In the Multi Commodity Exchange, gold futures for the October contract fell by Rs 1,280 or 1.26 percent to Rs 1,00,518 per 10 grams. The spot silver fell 1.39 percent to $ 37.81 an ounce.
Why did the price of gold and silver reduce?
Due to the decrease in the demand for traditional safe investment properties due to the encouraging stance of the market, business started again with weakness in gold. Soumil Gandhi, Senior Analyst (Commodities) of HDFC Securities, said that there has been a decrease in geopolitical tension, as President Donald Trump has agreed to meet Russian President Vladimir Putin in Alaska later this week, where he will discuss peace efforts associated with Russia-Ukraine War. Gandhi said that apart from this, the clarification of the White House in relation to the 39 percent fee on gold rods also put pressure on the prices of gold.
Will there be shortage or fast?
Kayanat Chanwala, AVP of Commodity Research in Kotak Securities, said that gold has declined by more than 1 percent, which has eliminated a large extent last week, as the market is waiting for clarification after the market Trump administration on Friday described the reports of tariffs on gold and other special products.
In Angel One, DVP-Rest, Non Agri Commodity and Currency, Prathamesh Mallya said that the state of tariff has created anarchy in the global system and if it increases, traders may get to see gold prices in international markets, which can reach a level of $ 3,800 a $, while the MCX promise can reach 1,10,000 per 10 gram levels in three months’ levels. Is.