Gold Price: Due to continuous selling of jewelery vendors and stockists, the price of gold fell by Rs 160 to Rs 99,800 per 10 grams in the bullion market of the national capital on Monday. The All India Bullion Association has given this information.
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The price of gold with 99.9 percent purity was closed at Rs 99,960 per 10 grams on Friday. Gold with 99.5 percent purity fell by Rs 150 to Rs 99,100 per 10 grams (including all taxes). At the time of the last market shutdown, its price was Rs 99,250 per 10 grams. However, silver on Monday remained stable at Rs 1,05,200 per kg (including all taxes). On the global front, the spot gold fell marginally to $ 3,365.40 an ounce.
Kayanat Chanwala, AVP-Join Research of Kotak Securities, said that the price of gold increased to $ 3,413.80 an ounce on Monday on Monday, but after that it declined, as investors are waiting for Iran’s response after the US participation in air strikes on Tehran.
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Chanwala said that investors will wait for major economic events including Federal Reserve chief Jerome Pavel’s comment in Congress, US GDP figures and core PCE inflation data.
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According to MK Global Financial Services Research Analyst – Jens and Mudra Riya Singh, the domestic prices of gold have increased by four percent so far in June. However, it is trading at a lower price than global rates due to weak jewelery demand. Language edited by: Sudhir Sharma
