Digital Gold
The price of gold fell by Rs 400 to Rs 1,00,020 per 10 grams in the bullion market of the national capital on Wednesday due to continuous selling of stockists. The All India Bullion Association gave this information. In the last trading session, the price of gold with 99.9 percent purity was closed at Rs 1,00,420 per 10 grams.
In the local market, gold with 99.5 percent purity fell by Rs 350 to Rs 99,700 per 10 grams (including all taxes) on Wednesday. On Tuesday, it closed at Rs 1,00,050 per 10 grams. Senior Analyst (Commoner), HDFC Securities, said Sumil Gandhi said that gold prices continued to fall on Wednesday. The reason for this is to reach a week’s highest level with a slight gain of the US dollar. Also, after the positive results of meetings with Vladimir Putin of President Donald Trump, Volodimir Jailonsky and European leaders, the expectation of low-political risk to decrease has also been affected.
He said that this has hoped for a possible solution to the struggle, which has been the main reason for the fall in gold prices in recent times. Apart from this, silver prices fell by Rs 1,500 to Rs 1,12,500 per kg (including all taxes) on Wednesday. Silver closed at Rs 1,14,000 per kg on Tuesday.
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In foreign markets, the spot gold stood at $ 3,326.04 an ounce with a slight increase. Motilal Oswal Financial Services analyst (valuable Dhalu Research) said that gold prices came to their lowest level of about three weeks due to the strengthening of the dollar, while investors are waiting for the address of the US Federal Reserve chief Jerom Powell at the Jackson Hall Seminar on Friday.
He said that in the meantime, the US Dollar Index rose to the highest level of more than a week and broke the dollar/rupee to 87 levels, further pressure on domestic prices. However, silver in global markets fell by about one percent to $ 37.07 an ounce.
Modi said that investors will monitor the details of the Federal Reserve meeting. It will be released today. This is expected to get more information about the central bank’s monetary policy and the direction of bullion prices. Input language edited by: Sudhir Sharma
