The price of gold declined by Rs 1,500 to Rs 99,250 per 10 grams in the bullion market of the national capital on Thursday amidst the trend of weakness in global markets. The All India Bullion Association has given this information. The price of 99.9 percent purity gold closed at Rs 1,00,750 per 10 grams on Wednesday.
Breaking the continuing continuing for four days, gold with 99.5 percent purity declined by Rs 1,550 to Rs 98,800 per 10 grams on Thursday. In the last session, it closed at Rs 1,00,350 per 10 grams.
LKP Securities Vice President Research Analyst Jens and Mudra Jatin Trivedi said that there was a huge ups and downs in gold prices due to many global and domestic catalysts working together.
Trivedi said that there was a huge decline in gold in international markets after US President Donald Trump announced a trade agreement with Britain on Thursday. This was the first of the promises made by him, which led to profit booking in assets with safe investment.
According to the bullion association, the price of silver fell by Rs 740 to Rs 98,200 per kg from Rs 98,940 per kg on Wednesday. Gold spot in foreign markets fell by $ 20.69 or 0.62 percent to $ 3,343.81 an ounce.
According to commodity market experts, the Russia-Ukraine war, conflict in West Asia and the increasing tension between India and Pakistan are constantly creating a favorable position for geopolitical risk bullion prices. Language edited by: Sudhir Sharma
