Gold prices have been caught by China. Ever since China has imposed tariffs on America. Since then, there is a steady decline in gold prices. There has been a major decline in the price of gold in the country’s capital Delhi for the second consecutive day. If we look at the data, the price of gold has fallen by Rs 2900 in two days. While the price of silver has seen a decline for the 5th consecutive day and so far silver has reduced by Rs 10,500. According to experts, gold prices are being seen in gold prices due to reduced political tension and overwelling of gold prices. In the coming days, the prices of gold can be seen further. Let us also tell you how many gold and silver prices have been in Delhi…
Gold and silver cheaper
According to the All India Bullion Association, gold prices fell by Rs 1,550 to Rs 91,450 per ten grams in the bullion market of the capital of the country. On Friday, the price of gold with 99.9 percent purity fell by Rs 1,350 to Rs 93,000 per 10 grams. Gold with 99.5 percent purity fell by Rs 1,550 to Rs 91,000 per 10 grams, which closed at Rs 92,550 per 10 grams in the last trading session. Continuing the decline for the fifth consecutive day, silver prices fell from Rs 95,500 per kg to Rs 3,000 to Rs 92,500 per kg. In the last five sessions, silver had fallen by Rs 10,500 per kg.
What are you saying
Soumil Gandhi, Senior Analyst Commodity of HDFC Securities, said that the price of gold declined on Monday… as the stock market and other asset classes continue to sell nervous selling, which keeps pressure on precious metals with safe investment. On the global front, the spot gold fell by $ 10.16 to $ 3,027.20 an ounce. Jatin Trivedi, vice -president of LKP Securities, Jatin Trivedi, said, “The perception of investors remained cautious, as they are expecting more clarity about its next step from America amidst growing trade tension, especially amid growing trade stress.
What else will fall
Trivedi said that the upcoming US Consumer Price Index (CPI) figures would play an important role in shaping the expectations of interest rates, which will affect the direction of gold globally. He said that investors for domestic markets will also closely monitor the monetary review meeting of the Reserve Bank of India later this week. However, silver in the Asian market increased by 1.65 percent to $ 30.04 an ounce. According to Kotak Securities, US President Donald Trump’s fees and China’s counter measures have weakened the market notion, which saw a sharp fall in gold prices as per the widespread fall in the market.