gold Silver
The price of gold declined for the second consecutive day on Tuesday. According to the All India Bullion Association, the price of gold in the national capital declined by Rs 100 to Rs 90,450 per 10 grams in the national capital on Tuesday due to the weak demand of jewelery vendors and retailers. On Monday, gold with 99.9 percent purity closed at Rs 90,550 per 10 grams. Silver prices also fell by Rs 500 to Rs 1,00,000 per kg from Rs 1,00,500 per kg to Rs 1,00,000 per kg. Meanwhile, gold in international markets increased by $ 12.56 or 0.42 percent to $ 3,023.60 an ounce.
This makes gold cheaper
According to Soumil Gandhi, senior commodity analyst at HDFC Securities, gold prices have declined due to increase in US dollar and Treasury Yield, as there are indications that President Donald Trump’s next round of tariffs may be less rigid than the initial estimate. “Gold is trading closely by $ 3,020 an ounce due to the signs of the next wave of American fee being more centered by the AVP-Joint Research Kayanat Chanwala in Kotak Securities, which has reduced the possibility of comprehensive trade war.” Chanwala said that, however, the prices of Sarafa may remain limited. Israel is planning a military exercise and withdrawal in North Gaza near Lebanon.
Gold futures rose
With strong spot demands, the bookies made fresh deals with fresh deals, on Tuesday, gold rose by Rs 230 to reach Rs 87,508 per 10 grams in futures trading. In April, the price of gold in the Multi Commodity Exchange (MCX) in April was Rs 230 or 0.26 percent to Rs 87,508 per 10 grams. It traded for 8,771 lots. Analysts said that gold prices rose due to the fresh deal of participants. Globally, gold futures in New York rose 0.15 percent to $ 3,015.58 an ounce.
Latest business news