gold price Once again, it has gone beyond 99 thousand. Gold prices once again saw a boom in the bullion market in the national capital Delhi. The price of gold with 99.9% purity rose by Rs 550 to Rs 99,120 per 10 grams. This information has been given by the All India Bullion Association. On Monday, this rate was ₹ 98,570 per 10 grams. At the same time, gold with 99.5% purity rose by ₹ 500 to ₹ 98,600 per 10 grams (including all taxes). There was no change in silver prices. Silver remained stable at Rs 1,04,800 per kg in the third consecutive trading session. Talking about the international market, on Tuesday, the spot gold was trading at $ 11.42 or 0.34% to $ 3,325.09 an ounce.
Due to this, the price of gold returned
Senior Commodity analyst of HDFC Securities Soumil Gandhi said that the attitude of investors has turned to gold again due to the possibility of trade war. He said that gold compensated the loss of Monday and showed strength on Tuesday. This is due to President Donald Trump plans to impose 25% tariffs on goods imported from Japan and South Korea. According to Gandhi, this decision is part of a major initiative to improve Trump’s trade policies, which has increased uncertainty in global markets. In such an environment, gold has emerged as a safe investment option.
Dollar weakening is also affected
Chintan Mehta, CEO of Abson Financial Services, said that investors are currently eyeing business talks, Federal Reserve’s upcoming comments and new inflation figures. He said that these factors will decide in which direction the gold prices will move in the coming time. At the same time, Tejas Shigrekar, Senior Technical Analyst (commodities and currencies) of Angel One, says that gold still remains an important hedge property. He said that there has been a weakness in the dollar since June, which has increased the demand for gold globally, especially in emerging markets like India and China. Shigrekar also stated that the reinstatement of continuous purchases by central banks from many countries, and reinstatement in ETF investment, has strengthened long -term demand. Along with this, there is also a spot demand in jewelery markets, which are supporting prices.
False market declines
Gold prices fell by Rs 130 to Rs 97,140 per 10 grams on Tuesday in futures trading amid weak spot demand. In August, the price of gold supplied in the Multi Commodity Exchange (MCX) fell by Rs 130 or 0.13 percent to Rs 97,140 per 10 grams. It traded for 12,587 lots. Analysts explained weak global signs due to the fall in gold prices.
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