Dhanteras is after two. Buying gold on this day has special significance. Buying gold on this day is considered very auspicious. In such a situation, there is big news for those buying gold from Delhi. Gold prices have fallen below record levels. This means that there has been a decline in the price of gold in the country’s capital Delhi. On the other hand, there has been an increase in the price of silver. Even after that, silver prices remain below the record level. In a way, silver has disappeared in Delhi. Due to increase in demand, a rise in prices is being seen. However, a day ago there was a big fall in the price of silver. After which the price of silver came down from the record level of Rs 1.85 lakh. Let us also tell you what the prices of gold and silver have become in Delhi.
Delhi gold becomes cheaper, silver becomes expensive
According to All India Bullion Association, on Thursday, gold prices fell below its record level in the bullion market of the country’s capital Delhi and fell by Rs 200 to Rs 1,31,600 per 10 grams. Gold with 99.9 per cent purity had risen by Rs 1,000 to an all-time high of Rs 1,31,800 per 10 grams in previous trade. In the local bullion market, gold of 99.5 per cent purity also declined by Rs 200 to Rs 1,31,000 per 10 grams (including all taxes). Earlier, it had closed at its all-time high of Rs 1,31,200 per 10 grams.
However, in volatile trade, silver prices rose by Rs 2,000 and came close to its record high of Rs 1,84,000 per kg (including all taxes). On Tuesday it had touched a record of Rs 1,85,000 per kg. On the other hand, according to the Indian Bullion Jewelers Association, a big fall has been seen in the prices of silver. According to IBJA data, the price of silver was seen at Rs 1,76,467 on October 15. Whereas on the evening of October 16, silver prices fell to Rs 1,68,083 per kg. In such a situation, a fall of Rs 8,400 per kg has been seen in the prices of silver in 24 hours.
Gold at record level in foreign markets
In international markets, spot gold rose nearly 1 percent to an all-time high of $4,246.08 an ounce, continuing a recent rally as investors turned to safe havens amid fiscal concerns in the US and rising global tensions. There is uncertainty in the market due to the delay in the release of key economic data due to the shutdown of many departments due to the ongoing funding crisis of the US government, due to which the rise in gold continues. Spot silver remained at $ 53.05 an ounce with a slight rise. On Tuesday it had reached an all-time high of $ 53.62 an ounce.
what do experts say
Jatin Trivedi, Vice President, Research Analyst – Commodity & Currency, LKP Securities, said the lack of new cues and persistent concerns over the US fiscal situation have strengthened the demand for safe haven investments, leading to a rise in gold prices. Kainat Chainwala, AVP Commodity Research, Kotak Securities, said investor sentiment is being influenced by expectations that the US central bank may cut interest rates twice later this year to boost growth. According to commodity market experts, despite occasional profit-booking, the underlying bias of the precious metal remains bullish, which is being supported by a combination of macroeconomic and geopolitical factors.