Gold Price: Gold price has been amazing, this is the price of 10 grams of gold per 10 grams
On Wednesday, the price of gold declined by ₹ 500 in the national capital Delhi. According to the All India Sarafa Association, the decline is due to frequent selling by bullion traders. After this decline, gold with 99.9% purity came to 10 grams to ₹ 1,01,020, while it closed at ₹ 1,01,520 in the previous trading session. According to PTI news, the price of gold with 99.5% purity also fell by ₹ 500 to ₹ 1,00,600 per 10 grams (including all taxes). There was no change in silver prices. It remained stable on Wednesday and remained 1 kg of silver at ₹ 1,12,000 (including all taxes).
Gold trick in international market
In international markets, Spot Gold in New York was trading at $ 3,358.99 an ounce with a gain of 0.32% or $ 10.79. According to Kayanat Chanwala, AVP of Commodity Research of Kotak Securities, gold is near about $ 3,350 an ounce as investors are waiting for the US producer Price Index, Retail Sales data and speeches of Fed officials, which will clear the direction regarding monetary policy. The spot silver was trading at $ 38.51 an ounce with a gain of 1.58%.
What do experts say?
Chintan Mehta, CEO of Absan Financial Services, said the political pressure created by US President Donald Trump over the cut in interest rates on Fed Chairman Geom Powell has increased uncertainty in the market, which has strengthened the demand for safe investment of gold. According to Saumil Gandhi, senior analyst of HDFC Securities, the market is now on the meeting of US President Donald Trump and Russian President Vladimir Putin to be held on Friday, which can decide the front direction of gold prices.
Gold futures
Gold prices rose by Rs 243 to Rs 1,00,400 per 10 grams on Wednesday in futures trading from fresh deals with fresh deals of bookies amidst strong spot demand. In October, the price of gold contracts supplied in Multi Commodity Exchange (MCX) increased by Rs 243, or 0.24 percent, to 1,00,400 per 10 grams. It traded for 12,790 lots. Analysts stated that gold prices have risen due to the latest deal of participants.
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