A big fall in gold prices has been seen in the country’s capital Delhi. In fact, due to the fall in the dollar index in the international market, there has been a decline in the prices of gold and silver. Whose effect is being seen from Delhi to New York. If experts are to be believed, there may be fluctuations in the prices of gold and silver in the coming days. By the end of December, gold prices in Delhi can reach the level of Rs 77,000. Let us also tell you what kind of decline is being seen in the prices of gold and silver in the foreign markets along with the country’s capital Delhi.
Gold and silver became cheaper in Delhi
According to the information given by All India Bullion Association, on Monday, gold fell by Rs 450 to Rs 79,550 per 10 grams in the bullion market of the country’s national capital Delhi. On Friday, gold had closed at Rs 80,000 per 10 grams. The price of gold of 99.5 percent purity also declined by Rs 450 to Rs 79,150 per 10 grams. On Friday it closed at Rs 79,600 per 10 grams. The price of silver also fell by Rs 600 to Rs 94,000 per kg, whereas in the last trading session its price was Rs 94,600 per kg.
Gold became cheaper in foreign market also
In the Comex market of New York, a fall of $ 31 per ounce is being seen in the gold future prices, due to which the price has come down to $ 2,664 per ounce. Gold spot prices are trading with a decline of $ 28 per ons and prices are trading at $ 2,656.49 per ons. There is a decline of about one percent in silver future prices and the price is trading at $ 31.14 per ounce. On the other hand, the price of silver spot is trading at $ 31.05 per ounce with a decline of 0.84 percent.
What are the experts saying?
Jatin Trivedi, Vice President Research Analyst (Commodity and Currency), LKP Securities, said that gold prices are falling, Comex is falling, the current price is below Friday’s closing price of $ 2,685 as the dollar index is strongly supporting the yellow metal. But the pressure is on. He said that the rise in US bond prices after Donald Trump’s election victory is promoting a corrective trend in bullion.