Gold Price: Gold has become and cheaper, this reverse in silver, know what is the latest rate
In the national capital, the price of gold fell by Rs 900 to Rs 98,900 per 10 grams on Tuesday. According to the All India Bullion Association, precious metal with 99.9 percent purity was closed at Rs 99,800 per 10 grams in the previous market session. Gold with 99.5 percent purity fell by Rs 800 to Rs 98,300 per 10 grams (including all taxes). On Monday, it closed at Rs 99,100 per 10 grams. According to the news of PTI, prices have decreased due to the reduction of safe shelter appeal in the global market due to the hopes of ceasefire between Iran and Israel. Silver prices also fell by Rs 1,000 to Rs 1,04,200 per kg (including all taxes) on Tuesday. In the last market bandh, this metal closed at Rs 1,05,200 per kg.
Gold prices fell by Rs 1,452 to Rs 97,936 per 10 grams in futures trading on Tuesday amid weak spot demand. Gold contracts with August delivery in the Multi Commodity Exchange fell by Rs 1,452 or 1.46 percent to Rs 97,936 per 10 grams with trade for 14,145 lots. Gold futures fell 0.86 percent to $ 3,339.57 an ounce in New York.
What do experts say
Chintan Mehta, Chief Executive Officer (CEO) of Abance Financial Services, said that along with the possibility of further tension, investors are making profits and pulling hands from gold. Meanwhile, gold in the global market fell by $ 46.05 to $ 3,323.05 an ounce. Investors are keeping a close watch on the Federal Reserve President Geom Powell, who is going to testify before the US Congress on Tuesday and Wednesday, which can give any indication about it.
Expected to cut interest rates
Senior Analyst (Commodities) of HDFC Securities Soumil Gandhi said that this is a decision to cut interest rates on future policy paths. Gold is under pressure due to decrease in demand for safe investment after the US confirmed a complete ceasefire between Iran and Israel. The announcement was made shortly after Iran attacked the US military base in Qatar, leading to some time, but then quiet soon.
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