gold Silver
The country’s capital Delhi has seen a decline in gold and silver prices for the second consecutive day. The special thing is that even though gold has become cheaper by Rs 900 in these two days, there has been a big fall in the price of silver. In two days, silver has broken Rs 4500 per kg in Delhi. The reason for this is the reduction in industrial demand and not getting indications of interest rate cuts from the Fed. According to experts, gold and silver prices can remain under pressure and pressure in the coming days. Let us also tell you how much the prices of gold and silver have been done in the country’s capital Delhi.
How cheap gold
According to the All India Bullion Association, the price of gold fell by Rs 400 to Rs 97,620 per 10 grams in the national capital on Friday due to frequent selling of stockists. In the last market session, gold with 99.9 percent purity closed at Rs 98,020 per 10 grams. In the national capital, gold with 99.5 per cent purity fell by Rs 300 to Rs 97,500 per 10 grams (including all taxes) on Friday, while in the previous session it closed at Rs 97,800 per 10 grams. By the way, in two days, the prices of gold have seen a decline of Rs 900 per ten grams.
Silver crash in Delhi
According to the bullion association, silver prices continued to fall for the second consecutive day and silver fell by Rs 2,500 to Rs 1,09,500 per kg (including all taxes). At the time of the last market shutdown, this white metal closed at Rs 1,12,000 per kg. On the other hand, the price of silver has become cheaper by Rs 4500 in two days. Gold was weak due to softening in international markets, which remained around $ 3,290 an ounce. Globally, the spot gold rose 0.12 percent to $ 3,294.31 an ounce. Silver spot in New York fell 0.75 percent to $ 36.44 an ounce.
What are you saying?
Jatin Trivedi, vice -president (research analyst) of the Commodity and Currency of LKP Securities, said the decline has come amid pressure to receive the US Federal Reserve’s constant aggressive stance and no indication of interest rates in the near future, weakening the perception for safe investment. He said that gold continued to fall on the last trading day of the week and it is going to close with a decline on weekly basis.
Soumil Gandhi, Senior Analyst (Commodities) of HDFC Securities, said that this decline is due to overall decrease in heavyweight demand and strong improvement in US dollars, which has reached a nine -week high with more than 2 per cent increase so far this week. According to Manav Modi, an analyst of precious metal research at Motilal Oswal Financial Services, silver prices remained sluggish amid the decline in industrial metals, while market participants remain alert due to global tariff uncertainties.
Modi said that the US central bank has kept the interest rates stable within 4.25–4.50 percent, and after the decision, Chairman Jerome Powell’s comments have reduced the expectations of cutting interest rates in September. Market participants will be focused on American Non-Agri Salary data. He said that any update regarding tariff will be given later.