Gold Price Today
After the trade deal between the US and the European union, there is a steady decline in gold from investors. The price of gold in the country’s capital Delhi saw a decline for the fourth consecutive day. After which the price of gold has come to the level of 98 thousand Ranu. According to experts, even though America’s trade deal with India has not been finalized, America’s trade deal is being done against the rest of the world. Due to which there is a decrease in the demand for gold. On the other hand, the possibility of cutting interest rates from Fed is also being seen. The effect of which is also being seen in gold prices. According to experts, there may be further decline in gold prices in the coming days. Let us also tell you how much gold prices have gone in the country’s capital Delhi.
Gold price declines for fourth consecutive day
According to the All India Bullion Association, on Monday, gold with 99.9 per cent purity fell by Rs 500 and the price of gold closed at Rs 98,020 per ten grams. Whereas on Saturday, there was a decline of Rs 600 per ten grams. After which the price came to Rs 98,520 per 10 grams. In the national capital Delhi, gold with 99.5 per cent purity continued to fall for the fourth consecutive day and on Monday it fell by Rs 500 to Rs 97,750 per 10 grams (including all taxes). It closed at Rs 98,250 per 10 grams in the last market session.
Reduction in silver price also
Apart from this, silver prices fell by Rs 1,000 to Rs 1,13,000 per kg (including all taxes) on Monday. On Saturday, this white metal closed at Rs 1,14,000 per kg. Meanwhile, in the global markets, the gold and silver were trading at $ 3,337.95 and $ 38.17 an ounce respectively. Research analyst Jatin Trivedi, vice -president of LKP Securities and currency vice -president Jatin Trivedi said that the gold business was positive but almost a stable range around $ 3,335 an ounce due to strength in the dollar index last week.
Gold prices will be dependent on these
The US has announced a trade agreement with the European Union (EU), which includes 15 percent tariffs on most European goods entering the US market and an investment of hundreds of billion dollars in the US industry by this group of 27 countries. This agreement is similar to the US-Japan trade agreement last week. Chintan Mehta, Chief Executive Officer of Absan Financial Services, said that investors will keep a close watch on the upcoming US major economic figures, which include unemployment claims and the second quarter GDP figures this week.
Why fall in gold and silver
According to Soumil Gandhi, Senior Analyst (Commodities) of HDFC Securities, the price of gold remains stable, as trade optimism and strong US dollars remain vigilant. Gandhi further stated that bullion prices declined last week due to a decline in demand for safe investment properties amid lack of tariff concerns. In addition, President Donald Trump reduced stress with Fed Chairman Jerome Powell to reduce market concerns about the freedom of the US Federal Reserve. He further stated that both factors contributed to a rose in the US dollar, which has increased for the third consecutive day and is negatively impacting the prices of precious metals.