Gold Rate Today: Gold dropped after reaching 1 lakh, so much falling prices, silver also became cheaper

The price of gold fell by Rs 170 to Rs 1,01,370 per 10 grams in the bullion market of the national capital on Monday amid weak global trend. The All India Bullion Association gave this information. The price of gold with 99.9 percent purity was at Rs 1,01,540 per 10 grams on Friday. Gold with 99.5 percent purity fell at Rs 150 to Rs 1,00,550 per 10 grams (including all taxes). It stood at Rs 1,00,700 per 10 grams in the last trading session.

The price of silver also fell by Rs 1,000 to Rs 1,07,100 per kg (including all taxes). On Friday, silver closed at Rs 1,08,100 per kg. Jatin Trivedi, vice-president and research analyst (commodity and currency) of LKP Securities, said that after the report of possible trade deals between Indo-US and America-Euros region, profits were seen, causing gold to be trading in a limited scope of around Rs 99,800. ‘

He said that this softening in demand for gold as a safe investment also led to a slight decline in gold in international markets. Globally, the spot gold was trading at $ 13.23 an ounce to $ 3,419.41 an ounce.

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Chintan Mehta, Chief Executive Officer of Abance Financial Services, said, “There has been a slight decline in gold prices, but it remains around the record height.” The increasing tension between Israel and Iran has attracted investors to safe assets. ‘

Kayanat Chanwala, Assistant Vice President (Jens Research) in Kotak Securities, said that investors will be waiting for the decisions of the US Federal Reserve Monetary Policy this week. The central bank’s economic estimates will guide about cuts in possible interest rates in the coming months. (Language) Edited by: Sudhir Sharma