The price of gold fell by Rs 1,400 to Rs 99,620 per 10 grams on Thursday in the bullion market of the national capital due to the profits of the stockist and lethargy in the global markets. The All India Bullion Association gave this information. Gold with 99.9 percent purity closed on Wednesday at Rs 1,01,020 per 10 grams. In the national capital, gold with 99.5 percent purity fell by Rs 1,200 to Rs 99,250 per 10 grams (including all taxes) on Thursday. In the last session, it closed at Rs 1,00,450 per 10 grams.
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JM Financial Services Vice President, EBG,, Jens and Mudra Pranav Mer said, “Gold prices have declined due to profit -booking due to rising risk premium after the US and Philippine declaration of trade agreements with Japan and Philippine.” This has increased hopes of more such agreement with China and Europe. ”
He said that however, weaker dollars may give some support to prices compared to other major currencies. According to the association, silver prices fell by Rs 3,000 to Rs 1,15,000 per kg (including all taxes) on Thursday. On Wednesday, it rose by Rs 4,000 to an all -time high of Rs 1,18,000 per kg.
Meanwhile, gold in international markets fell by $ 24.35 or 0.72 percent to $ 3,362.88 an ounce.
Soumil Gandhi, Senior Analyst (Jens), HDFC Securities, said, “Gold came below the five -week high and continued to decline on Thursday due to the demand for gold being affected due to optimism due to optimism due to optimism due to optimism due to optimism.”
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“Last month, gold was continuously gained in gold amidst a hindrance in fee talks, but the new agreement announcements have raised hopes of stress,” said LKP Securities Vice President, Research Analyzer Combinage and Mudra Jatin Trivedi said, “The announcement of stress has reduced, which has reduced the appeal of bullion in short -term.” On the global front, the dollar with a dollar on the global front, has decreased in the short term. Was trading on every ounce.
Manish Sharma, AVP (commodity and currency) of Anand Rathi Share and Stock Brokers, said, “Going forward, the next week will be at the next week to assess the economic health of the Federal Reserve, on Thursday, USA’s weekly unemployment claims and S&P Global PMI figures will remain at the Center for Center.” He said that traders can also be cautious about the interest rate decision of European central bank. Language edited by: Sudhir Sharma
