Gold Price: Gold-silver price falls heavy today, shopping opportunity! Learn the latest price
The national capital Delhi on Thursday recorded a steep fall in gold and silver prices. According to the All India Bullion Association, gold with 99.9% purity fell by ₹ 1,400 to ₹ 99,620 per 10 grams. A day earlier, on Wednesday, its price was ₹ 1,01,020 per 10 grams. According to PTI news, the price of gold with 99.5% purity declined by ₹ 1,200 to ₹ 99,250 per 10 grams (including all taxes), which was closed at ₹ 1,00,450 on Wednesday.
Silver becomes ₹ 3,000 cheap
There was also a sharp decline in silver prices. Silver fell ₹ 3,000 to ₹ 1,15,000 per kg (including all taxes). Let us tell you that on Wednesday, silver rose by ₹ 4,000 to reach the record level ₹ 1,18,000 per kg.
Why did gold fall so much?
Experts believe that there are two main reasons behind this decline- profits made by stockists and weak trend in international markets. Pranav Mer, Vice President of Commodity and Currency Research at JM Financial Services, said the new business agreements between the US, Japan and the Philippines have reduced the global risk premium, which has increased profits in gold. However, dollar weakness may support prices.
What is going on in the global market?
Spot gold in the international market fell to $ 24.35 i.e. 0.72% to $ 3,362.88 an ounce. According to Soumil Gandhi, Senior Commodity Analyst of HDFC Securities, the demand for safe haven -safe investment options has declined due to possible agreements between the US and its business partners, causing a decline in the gold price.
In addition, Jatin Trivedi, research analyst of LKP Securities, said that in the last few weeks, gold prices remained strong due to the uncertainty of the tariff negotiations, but now the news of trade deals is expected to reduce stress, which can reduce bullion attraction. Spot silver was also trading at $ 39.05 an ounce.
These things will be seen further
Now investors are eyeing US weekly unemployment figures and S&P Global Flash PMI data. They can be guessed from them what decision can be taken in the monetary policy meeting of the next Federal Reserve. Along with this, markets will also be monitored on the interest rate policy of European Central Bank, which can bring instability in international currency markets.
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