The price of gold is upset, know what is the new sense of 10 grams of gold and silver per 10 grams
The price of gold fell by Rs 200 to Rs 97,470 per 10 grams in the national capital. On Friday, this precious metal with 99.9 percent purity closed at Rs 97,670 per 10 grams. Continuing decline for the seventh consecutive day, gold with 99.5 percent purity fell by Rs 150 to Rs 97,050 per 10 grams (including all taxes). It closed at Rs 97,200 per 10 grams in the last market session. According to the news of PTI, the All India Bullion Association says that there was a softening in the price of gold due to the frequent selling of stockists. Silver prices also fell by Rs 200 to Rs 1,02,800 per kg (including all taxes) on Monday. Silver closed at Rs 1,03,000 per kg on Friday.
Why the gold trend is soft
According to the news, experts say that there is pressure on gold due to reduced geopolitical and economic uncertainties. The immediate need for safe haven assets is decreasing due to reduced tension in the Middle East and progress on trade agreements with the US. Chintan Mehta, Chief Executive Officer (CEO) of Absan Financial Services, said that as the countries are moving rapidly towards finalizing deals, there has been an improvement in the sense of risk in the markets, making investors changing the condition of safe haven. The decline in crude oil prices is reducing inflationary concerns, which is decreasing to sleep as a prevention of inflation.
However, Trivesh D, Chief Operating Officer of Tradezini Trivesh D, says that this does not mean that gold has become weak, geopolitical tension, such as the concerns of conflicts in West Asia, and the continuous purchase of the central bank is still giving good support to gold.
At what price gold in global market
Gold in global market markets increased by $ 12.06 or 0.37 percent to $ 3,286.31 an ounce. Kayanat Chanwala, AVP-modern research of Kotak Securities, said that renewed optimism on global trade talks has increased the risk spirit, causing gold to be under pressure, trading close to $ 3,300 an ounce.
According to the Vice President Research Analyst-Commodity and Currency, Jatin Trivedi of LKP Securities, this week is important, in which ADP will receive many high-influence US economic figures including non-agricultural employment, non-agricultural parole and unemployment rates, which will provide further direction to gold prices.
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