gold Silver
Gold prices have seen a decline for the third consecutive day. In Delhi, gold became cheaper by Rs 960 to Rs 1.53 lakh per 10 grams, while a huge fall in the price of silver was recorded by Rs 6,660. Due to the rise in the stock market, the attractiveness of precious metals as safe-haven investment has reduced. According to All India Bullion Association, the price of gold of 99.9 percent purity fell by Rs 960 to Rs 1,53,440 per 10 grams. On Wednesday its price was Rs 1,54,400 per 10 grams. At the same time, if we talk about silver, there was selling pressure on it too and its price fell by Rs 6,660 to Rs 2,48,740 per kg (including all taxes). In the last trading session, silver had closed at Rs 2,55,400 per kg.
Market experts say that this decline has come due to the strength in the domestic stock market and the strengthening of the rupee against the US dollar. Due to this, despite the slight rise in the prices of gold and silver in the global market, investors started withdrawing money from bullion and investing it in other assets. Experts also mentioned the impact of the recent policy decisions of the US Federal Reserve and the comments of new Fed Chairman Kevin Worsh.
Jatin Trivedi, Commodity and Currency Research Analyst (VP) of LKP Securities, said that gold prices fell sharply after the Federal Reserve’s policy announcement. The statement of new Fed Chairman Kevin Wersh indicated that if the US economy remains strong, then interest rates may increase once in 2026. He said that the Fed’s assessment of strong economic growth and better labor market strengthened the dollar, which increased pressure on gold and silver prices.
What was the price in the global market?
In the global market, spot gold price rose slightly to $ 4,266.47 an ounce, while silver increased by 0.38 percent to $ 68.17 an ounce. This increase was seen after the MoU signed between US President Donald Trump and Iranian President Masoud Pejeshkian with the aim of creating a framework for talks on Iran’s nuclear program and reducing tension. HDFC Securities Senior Commodity Analyst Saumil Gandhi said that progress towards an interim peace agreement between the US and Iran has reduced geopolitical tensions and inflation concerns, which has provided some support to bullion.
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