Gold price today: Gold and silver prices fell on Friday in the bullion market in the national capital Delhi. Gold fell by Rs 500 to Rs 87,700 per 10 grams due to weak demand and selling of investors, which is a two -week low. At the same time, the price of silver fell by Rs 2,100 to Rs 96,400 per kg.
Gold prices fall
In the last trading session, gold with 99.9% purity closed at Rs 88,200 per 10 grams. Earlier this year, the price of gold was Rs 79,390 per 10 grams, which has increased by Rs 8,310 i.e. 10.5% so far. However, the fall of this week has led to some softness in prices.
Gold of 99.5% purity also fell by Rs 500 to Rs 87,300 per 10 grams, while its previous closed price was Rs 87,800 per 10 grams.
Silver also became cheap
The price of silver also fell due to the decline for the third consecutive day. Silver fell by Rs 2,100 to Rs 96,400 per kg, as compared to Rs 98,500 per kg in the previous session.
What is the reason behind the fall of gold and silver?
Experts say the pressure on gold and silver has increased due to the strengthening of the dollar index.
According to the Rahul Kalnist of Mehta Ecuviums Limited, the US President has strengthened the dollar with the announcement of the announcement of new fees on Mexico and Canada, showing weakness in the bullion market. In addition, gold prices have also declined due to the possibility of postponing the US Federal Reserve’s interest rate cuts.
Gold-silver condition in international market
In the global market, gold futures fell at $ 21.20 an ounce to $ 2,874.70 an ounce on comex. The spot gold was also trading down $ 15 an ounce to $ 2,862.53 an ounce. At the same time, silver futures were trading at $ 31.72 an ounce in the Asian market.
Gold price decreased in Indore, silver became expensive
In the bullion market of Indore, gold prices fell by Rs 350 per 10 grams on Friday, while silver became expensive by Rs 1,000 per kg.
The average price in Indore remain as follows:
Gold: ₹ 87,400 per 10 grams
Silver: ₹ 97,300 per kg
Silver Coin: ₹ 1,100 per nos
Will gold and silver prices move forward?
Market fluctuations will continue. If the dollar and American bond yields remain strong, gold prices may fall further. At the same time, if uncertainty in the global market increases, then gold may climb again.
