Gold price declines for 5th consecutive day
There has been a trade deal between America and Europe. Due to which the trend of investors has reduced slightly due to Jio Political Tension and Gold. Due to which the price of gold has seen a decline for the 5th consecutive day. In these five days, the price of gold has seen a decline of Rs 3200 per ten grams. According to experts, soon a policy meeting of American Central Bank Fed Reserve is also going to be held. In which there are more signs of no change in interest rates. In such a situation, the prices of gold are shocking. In the coming days, there may be further decline in gold prices. If Russia does not stop military action against Ukraine within Trump’s 12 -day notice, then Russia and America may come face to face in the coming days. Due to this tension, the prices of gold can be seen. Let us also tell you how much gold prices have declined on Tuesday.
Gold became cheaper on the 5th day
According to the All India Bullion Association, the price of gold fell by Rs 200 to Rs 97,820 per 10 grams in the country’s capital Delhi on Tuesday. On Monday, gold with 99.9 per cent purity closed at Rs 98,020 per 10 grams. In the local markets, the price of gold with 99.5 per cent purity continued to fall for the fifth consecutive day and on Tuesday it fell by Rs 200 to Rs 97,550 per 10 grams (including all taxes). It closed at Rs 97,750 per 10 grams in the last market session. However, according to the Sarafa Association, silver prices on Tuesday remained stable at Rs 1,13,000 per kg (including all taxes).
Gold became cheaper by Rs 3200 in 5 days
If we talk about a steady decline in 5 days, then the price of Gold has become cheaper by Rs 3200 cheaper. On July 24, the price of gold was seen to fall by Rs 1,400. On July 25, the price of gold was seen to fall by Rs 500. On Saturday, the price of gold in Delhi Bullion Bazar was reduced by Rs 600 per ten grams. Whereas on Monday 28 July, the price of gold was a decline of Rs 500. On July 29, there has been a decline of 200 rupees. Meanwhile, gold in international markets increased by $ 9.48 or 0.29 percent to $ 3,324.11 an ounce. However, silver, spotted in global markets, came down to $ 38.14 an ounce.
Why came the fall in gold prices
Chintan Mehta, CEO of Abson Financial Services, said that gold prices declined after confirmation of the trade agreement between the US and the European Union. In addition, the Dollar has got more support from the hope of keeping the interest rates stable by the US Federal Reserve at the FOMC meeting to be held this week. Kayanat Chanwala, AVP of Commodity Research in Kotak Securities, said that gold is trading around $ 3,315 level as markets are waiting for the major American large economic figures.
Which includes job opportunities and CB consumer confidence in Jolts. While American trade talks with Canada and South Korea continue. Jatin Trivedi, Vice President Research Analyst (Commodity and Currency) of LKP Securities, said that investors will also be awaited to investors major American large economic data-ADP non-agricultural employment change, non-agri salary, unemployment rate and GDP-which will be released along with the interest rate of Fed this week.