on a global scale The price of gold slipped from a record high of Rs 900 to Rs 1,02,520 per 10 grams in the bullion market of the national capital on Monday due to the shortage of stockists, between the stress reduced. According to the All India Bullion Association, gold with 99.9 percent purity rose by Rs 800 to Rs 1,03,420 per 10 grams on Friday. At the same time, gold with 99.5 percent purity fell by Rs 900 to Rs 1,02,100 per 10 grams (including all taxes) on Monday. In the last session, it reached the highest level of Rs 1,03,000 per 10 grams. By Friday, gold prices had increased by Rs 5,800 per 10 grams in five sessions.
On Monday, silver prices fell by Rs 1,000 to Rs 1,14,000 per kg (including all taxes). On Friday, the price of silver closed at Rs 1,15,000 per kg. By Friday, silver prices had increased by Rs 5,500 per kg in the last five days. In the global market, New York, gold fell by $ 40.61 to $ 3,358.17 an ounce in the spot market.
This makes gold cheaper
Soumil Gandhi, Senior Analyst (Commoner), HDFC Securities, said, “Business started with a weak trend in gold due to low demand for traditional safe investment assets due to the encouraging stance of the market.” He said, “In addition, geopolitical tension has decreased.” The reason for this, President Donald Trump has agreed to meet Russian President Vladimir Putin in Alaska this week, so that peace efforts related to the Russia-Ukraine struggle can be discussed. ”Gandhi said that in addition, the clarification of the White House also put pressure on gold prices on gold rods.
Trump administration clarified
AVP Kayanat Chanwala, in the Jens Research Department in Kotak Securities, said, “Gold declined by more than one percent, which led to a large extent of the previous week. The market was waiting for the clarification after the Trump administration on Friday described the news of the fee on gold and other special products as ‘misinformation’. “Silver fell 1.39 percent to $ 37.81 an ounce. Angel Forest analyst Prathamesh Mallya said, “The fee status has created a global upheaval situation and if it grows, traders may see more rise in gold prices in international markets that can reach a level of $ 3,800 an ounce.”
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