Gold-Silver Price: Gold is broken again, there is a big decline in silver too, know what are the feelings …
Gold and Silver Price News: The price of gold in the national capital fell by Rs 500 to Rs 98,870 per 10 grams in the second consecutive trading session on Wednesday due to continuous selling at the stockist level. Meanwhile, gold with 99.5 percent purity fell by Rs 400 to Rs 98,400 per 10 grams (including all taxes). At the same time, silver also fell by Rs 1,000 to Rs 1,11,000 per kg (including all taxes). Silver closed at Rs 1,12,000 per kg on Tuesday.
The All India Bullion Association gave this information. On Tuesday, gold with 99.9 percent purity fell by Rs 200 to close at Rs 99,370 per 10 grams. Meanwhile, gold with 99.5 percent purity fell by Rs 400 to Rs 98,400 per 10 grams (including all taxes). It closed at Rs 98,800 per 10 grams in the last trading session.
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On Wednesday, silver also fell by Rs 1,000 to Rs 1,11,000 per kg (including all taxes). Silver closed at Rs 1,12,000 per kg on Tuesday. On the contrary, gold in global markets increased by $ 16.41, or 0.49 percent, to $ 3,341.37 an ounce.
Kayanat Chanwala, assistant vice -president of Commodity Research of Kotak Securities, said, “Gold increased to $ 3,346 an ounce due to new fees threats from US President Donald Trump.” Trump has indicated to levy a possible fee on medicines by the end of the month and consider to consider putting additional fees on the semiconductor. Globally, the spot silver rose by about one percent to $ 38.05 an ounce.
Carston Menke, head of economics and next generation research at Julius Bayer, said, gold is strengthening while silver is accelerating. Silver prices reached $ 39 an ounce, indicating the new interest of investors. Menke said that silver does not look much cheaper than gold between recent boom and the ratio of gold and silver falling by about 85.
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Jatin Trivedi, vice-president and research analyst (commodity and currency) of LKP Securities, said investors would be waiting for major American large-economic figures, including the productive price index (PPI) and unemployment claims. (Language)
Edited by: Chetan Gour
