Gold sales are expected to remain stable at 20 tonnes in terms of quantity.
Gold became cheaper on the day of Akshaya Tritiya. On Wednesday, the price of gold in the national capital declined by Rs 900 to Rs 98,550 per 10 grams. On Tuesday, this precious metal with 99.9 percent purity closed at Rs 99,450 per 10 grams. According to the All India Bullion Association, gold with 99.5 percent purity declined by Rs 900 to Rs 98,100 per 10 grams, compared to closed at Rs 99,000 per 10 grams. The news of PTI states that the price of gold on Akshaya Tritiya in 2024 was at Rs 72,300 per 10 grams.
Silver price
Silver fell by Rs 4,000 to Rs 98,000 per kg, while the price of silver closed at Rs 1,02,000 per kg earlier. Silver has also been at its high level for a long time.
Akshaya Tritiya’s impact on the market
According to the news, the increased purchases of consumers on Akshaya Tritiya limited the fall in gold prices. Akshaya Tritiya is considered auspicious day to buy gold, jewelery and other valuables. Jewelry vendors are expected to increase sales by about 35 percent this year on Akshaya Tritiya in terms of price due to high prices. In 2024, the price of gold on Akshaya Tritiya was at Rs 72,300 per 10 grams, which fell on May 10.
Gold sales expected to remain stable at 20 tonnes
Jewelers say that gold sales are expected to be stable at 20 tonnes in terms of quantity. On Tuesday, the price of silver fell by Rs 4,000 to Rs 98,000 per kg against the previous closing price of Rs 1,02,000 per kg. Gold, spotted in the foreign market, fell at $ 43.35 or 1.31 per cent to $ 3,273.90 an ounce. The spot silver fell 1.83 per cent to $ 32.33 an ounce.
What do experts say
Gold continued to decline after US President Donald Trump’s AVP -model Research Kayanat Chanwala of Kotak Securities said that US President Donald Trump continued to signed an executive order with the aim of reducing the impact of his auto tariff and the gold continued to decline after the progress in business talks with several countries. Chintan Mehta, Chief Executive Officer of Absan Financial Services, said that traders would closely monitor the major American macroeconomic release at the end of this week, including Q1 GDP’s first estimate, personal consumption expenditure (PCE) inflation data and April jobs data.
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