gold Silver
The price of gold declined by Rs 600 to Rs 99,020 per 10 grams in the bullion market of the national capital on Friday due to the fresh selling of the stockist. On Thursday, the price of gold with 99.9 percent purity closed at Rs 99,620 per 10 grams. According to the bullion association, gold with 99.5 percent purity declined by Rs 500 to Rs 98,500 per 10 grams (including all taxes). It closed at Rs 99,000 per 10 grams in the last market bandh.
Why did gold and silver become cheaper?
Gold prices declined on Friday as senior analysts of HDFC Securities, Commodities, Saumil Gandhi said that US dollars and bonds have increased after the excellent economic figures that have been better than expected. He said, strong large economic figures have reduced the expectation of interest rate by the US Federal Reserve. This also negatively affected the prices of gold.
1000 rupees cheaper silver
On Friday, silver prices also fell by Rs 1,000 to Rs 1,04,800 per kg (including all taxes). It closed at Rs 1,05,800 per kg when the last market was closed. International markets have increased to $ 3,334.45 an ounce in international markets. Chintan Mehta, Chief Executive Officer of Abassed Financial Services, said, “The upcoming US Personal Consumption Expenditure Price (PCE) Inflation report can see fresh ups and downs in gold prices before the inflation report.”
Stock market also fluctuated
The stock markets closed with an increase in excessive ups and downs on Friday. The Sensex rose 193 points while the Nifty gained 56 points. BSE’s 30-share standard index Sensex rose 193.42 points, or 0.23 percent, closed at 83,432.89 points at the end of the ups and down trading. During the trading, the Sensex went up to the upper of 83,477.86 points and a low of 83,015.83 points. The National Stock Exchange (NSE) standard index Nifty also rose 55.70 points, or 0.22 percent, closed at 25,461 points.