Gold Price Today: Heavy fall in gold prices, gold became cheaper for the second consecutive day
Gold price today: On Tuesday, there has been a major decline in gold prices. Due to the frequent selling of jewelery vendors and stockists amidst weak global trends, the gold price of 99.9 percent purity in the capital Delhi fell by Rs 1200 to Rs 1,00,170 per 10 grams today. Let us tell you that on Monday, the price of gold closed at Rs 1,01,370 per 10 grams with a slight fall of Rs 170. Apart from this, gold of 99.5 percent purity also fell by Rs 1100 to Rs 99,450 per 10 grams (including all taxes). On Monday, it closed at Rs 1,00,550 per 10 grams.
Why the fall in gold prices
Sumil Gandhi, Senior Analyst (Commodity) of HDFC Securities, said, “Gold declined further on Tuesday as traders re -evaluated the possibility of a full regional war between Israel and Iran.” These changes have come after reports that Iran is actively trying a diplomatic solution to resolve its growing struggle with Israel. The possibility of a delicate ceasefire has promoted the perception of lethargy among gold traders. ”
What is the change in the price of silver today
However, silver prices rose by Rs 100 to Rs 1,07,200 per kg on Tuesday. Silver closed at Rs 1,07,100 per kg in the last trading session. Globally, the spot gold fell to $ 3,380.65 an ounce. The Vice President (Commodity) of Mehta Equities Rahul Kalnist said, “Gold is trading negatively despite increasing struggle in West Asia and was seen to be profitable in this precious metal at a higher level by investors.
What can happen next in gold prices
The artist said that silver prices have also come below the day’s high level before the US Federal Reserve monetary policy meeting. However, global uncertainty and stress can support the prices of precious metals. Chintan Mehta, CEO of Abance Financial Services, said, “On the Economic Front, the investors will be monitored by the US large economic figures, including the data of retail sales and industrial production to guess the strength of the US economy.”
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