Even though gold prices are falling in the futures market of the country, a good rise was seen in the Delhi bullion market. On the other hand, a decline of more than 3 percent was seen in the price of silver. Due to which the price of silver in Delhi came down to Rs 2.65 lakh. If experts are to be believed, there may be continuous fluctuations in the prices of gold and silver. Both gold and silver are looking for new macro economic indicators. Unless both the precious metals get another trigger, the situation of gold and silver prices may remain the same. Let us also tell you what is the price of gold and silver in the country’s capital Delhi?
gold and silver in delhi
On Tuesday, silver prices in the national capital fell by Rs 7,500, or about 3 per cent, to Rs 2.64 lakh per kg, while gold prices increased by Rs 2,200 per 10 grams due to the strengthening US dollar. According to All India Bullion Association, the price of silver fell by Rs 7,500 to Rs 2,64,500 per kg (including all taxes) from the closing price of Rs 2,72,000 per kg on Monday. On the other hand, the price of gold of 99.9 per cent purity increased by Rs 2,200, or 1.4 per cent, to Rs 1,60,700 per 10 grams (including all taxes). In the last market session, it had closed at Rs 1,58,500 per 10 grams.
Gold and silver broken in foreign market also
Traders say gold prices continued to rise for the second consecutive session due to continuous buying by jewelers and investors. Saumil Gandhi, Senior Analyst, Commodities, HDFC Securities, said gold prices witnessed marginal gains on Tuesday as traders awaited fresh macroeconomic signals. He further said that due to stability in the market in the near future, the prices of gold and silver fluctuate in a wide range. In the international market, spot silver fell by US $ 1.13 or 1.37 per cent to US $ 82.16 an ounce, while gold traded marginally lower at US $ 5,052.43 an ounce.
What are the experts saying?
Jatin Trivedi, Vice President Research Analyst – Commodity and Currency, LKP Securities, said market participants are waiting for important US retail sales data, followed by the release of unemployment and non-farm wages data at the end of the week. He said the release of these data is likely to bring volatility to the market, as they will shape expectations about the Federal Reserve’s policy stance and influence the direction of gold prices.