A decline in the prices of gold and silver is being seen in markets around the world. The prices of both precious metals have fallen from New York, London, Europe to Mumbai. The surprising thing is that the prices of gold and silver were at their peak on the last trading day of last week. Since then, gold and silver have become quite cheap in many markets. The same trend is being seen on Friday also. Gold has seen a fall of more than Rs 650 on the country’s futures market Multi Commodity Exchange. On the other hand, the prices of silver have decreased by more than Rs 2000.
According to experts, there is a reduction in tariff tension. Where there is a positive atmosphere regarding tariffs between India and America. On the other hand, an atmosphere of dialogue is also being created between America and China. Apart from this, geopolitical tension has also reduced. The effect of which is clearly visible in the prices. At the same time, due to lack of safe haven and festive demand, there is a decline in the prices of gold and silver. Let us also tell you what the prices of gold and silver have become in the domestic and foreign markets.
Gold prices fell
A decline in gold prices is being seen on the country’s futures market Multi Commodity Exchange. According to the data, the price of gold had fallen by Rs 641 to Rs 1,23,463, which is the lower level of the day. At 9.30 am, gold is trading down by Rs 378 at Rs 1,23,726 per ten grams. However, in the morning gold had opened at Rs 1,23,587 per 10 grams. Whereas a day earlier, gold had closed at Rs 1,24,104.
Devastation in silver prices also
There is also a huge decline in the prices of silver on the country’s futures market Multi Commodity Exchange. According to the data, the price of silver fell by Rs 2,012 per kg during the trading session and the price came down to Rs 1,46,500 per kg. However, today silver had opened at Rs 1,46,501 and a day earlier the price of silver had closed at Rs 1,48,512 per kg. By the way, silver has fallen by Rs 1,400 to Rs 1,47,112 per kg at 9.45 am.
Gold and silver prices also increased in foreign markets
- In the Comex market of New York, gold future is trading at $ 4,129.10 an ons with a fall of $ 16.50.
- Whereas in New York, gold spot prices are falling by $10.22 at $4,116.06 per ounce.
- In the European market, the price of gold spot has fallen by about 7 euros and the prices are seen at 3,544.94 euros per ounce.
- There is a decline of about 8 pounds in the price of gold spot in the British market and the price has come down to 3,088.63 pounds per ounce.
- In New York’s Comex market, silver future is trading at $ 48.27 an ons with a decline of about 1 percent.
- Whereas in New York, silver spot prices are falling by about 0.60 percent at $ 48.63 per ounce.
- There is a 0.45 percent decline in the price of silver spot in the European market and the prices are seen at 41.89 Euro per ounce.
- In the British market, a decline of 0.57 percent is being seen in the price of silver spot and the price has come down to 36.50 pounds per ounce.