There has been a big decline in the price of gold and silver in the country’s capital Delhi. Where gold in Delhi has come below one lakh rupees. On the other hand, silver prices have also come down from the record level. According to experts, the US has seen a decrease in tariff tension due to a deal with its trading partners. Because of which the attention of investors was shown to be moving away from gold and silver. However, the decline of the dollar index slowly slowed down the fast fall of gold. In the coming days, Fed and US Economic Data will decide the prices of gold. Let us also tell you how much gold and silver prices have been done in the country’s capital Delhi?
Gold became cheaper
According to the All India Bullion Association, the price of gold in the country’s capital Delhi fell by Rs 1,400 to Rs 99,620 per 10 grams. Gold with 99.9 percent purity closed at Rs 1,01,020 per 10 grams on Wednesday. In the national capital, gold with 99.5 per cent purity fell by Rs 1,200 to Rs 99,250 per 10 grams (including all taxes) on Thursday. In the last session, it closed at Rs 1,00,450 per 10 grams. JM Financial Services Vice President, EBG, Commodity and Currency Pranav Mer said that gold prices have declined due to profit -booking due to reduced risk premium after the US announcement of trade agreements with Japan and Philippine. This has increased the hopes of more such agreement with China and Europe. He said that however, weaker dollars may give some support to prices compared to other major currencies.
Big fall in silver prices
On Thursday, there has been a big decline in silver prices. According to the association, silver fell by Rs 3,000 to Rs 1,15,000 per kg (including all taxes). On Wednesday, it rose by Rs 4,000 to an all -time high of Rs 1,18,000 per kg. The special thing is that in three business days, the prices of gold were increased by Rs 7500. Meanwhile, gold in international markets fell by $ 24.35 or 0.72 percent to $ 3,362.88 an ounce. On the global front, the spot silver was trading at $ 39.05 an ounce with a decline of 0.53 percent.
What do you say
Senior analyst (commodity), HDFC Securities, Soumil Gandhi said that gold came below the five -week high and continued to decline on Thursday as the demand for gold was affected as a safe investment assets due to optimism due to optimism between the US and its major business partners and continued to fall on Thursday. Jatin Trivedi, vice -president of LKP Securities, Research Analyst Commodity and Currence Jatin Trivedi said that gold was continuously gained in gold amidst a hindrance in fees negotiations, but the announcements of the new agreement have raised hopes of stress to decrease, which has reduced the appeal of bullion in the short term.
Manish Sharma, AVP (Commodity and Currency) of Anand Rathi Share and Stock Brokers, said that next week, the USA will remain at the Center for the USA’s weekly unemployment claims and S&P Global PMI figures to assess the economic health before the Federal Reserve’s Monetary Policy decision next week. He said that traders can also be cautious about the interest rate decision of European central bank.