Donald Trump’s victory in the US Presidential election has become clear. After which there has been a decline in gold prices from Delhi to New York. Where a slight decline is being seen in the price of gold in Delhi. On the other hand, a big fall is being seen in the prices of gold in the Comex market of New York and the futures market of India. According to experts, the dollar index is increasing with Trump’s victory. There are speculations that on November 7, the Fed may cut interest rates by 0.25 percent less than expected. Due to which a decline is being seen in the prices of gold. Let us also tell you what the prices of gold and silver have become at present.
Gold and silver prices in Delhi
On Wednesday, the price of gold fell by Rs 150 to Rs 81,150 per 10 grams in the bullion market of the country’s national capital Delhi. Weak demand from jewelers and retailers also affected the prices of the precious metal. All India Bullion Association gave this information. However, silver remained stable at Rs 96,700 per kg. In the national capital on Monday, the price of gold of 99.9 percent purity fell by Rs 150 to Rs 80,750 per 10 grams. Earlier it had closed at Rs 80,900 per 10 grams.
Gold and silver surge on MCX
On the other hand, if we talk about multi-commodity exchange, there is a big fall in the prices of gold and silver. At 7 pm, the price of gold is trading at Rs 77054 with a fall of about Rs 1500. On the other hand, the price of silver is falling by Rs 3277. After which the price has come down to Rs 91371 per kg. If experts are to be believed, there may be a further decline in the prices of gold and silver.
Gold and silver prices crash in New York
In global markets, Comex gold futures are trading at $ 2,691.50 an ons, down by 2.12 percent or $ 58.20 an ons. Whereas gold spot is trading at $ 2,678.24 per ons with a fall of 2.40 percent i.e. $ 65.75 per ons. If we talk about silver, then a decline of 3.71 percent is being seen in the Comex futures market and the price has come down to $ 31.56 per ons. Whereas the price of silver spot is trading at $ 31.38 per ounce with a decline of 4 percent.
What are the experts saying?
Jatin Trivedi, Vice President Research Analyst (Commodity & Currency), LKP Securities, said that gold prices witnessed huge volatility due to the strengthening of the dollar index due to the US election results, with sharp fluctuations between Rs 78,500 and Rs 77,500. -It came down. The US dollar is rising as the market believes that Donald Trump’s economic agenda and tariffs will strengthen the US currency. This in turn is negative for the precious metal as it is priced and traded primarily in dollars.
