Women preferring jewelery at the gold shop.
Gold does not believe that. The bus is just climbing. On Tuesday, the price of gold in the national capital rose by Rs 50 to the top level of Rs 96,450 per 10 grams so far. On Monday, gold with 99.9 percent purity fell by Rs 50 to close at Rs 96,400 per 10 grams. According to PTI news, gold of 99.5 percent purity rose by Rs 50 to Rs 96,000 per 10 grams to its all -time top level. Its previous closed price was Rs 95,950 per 10 grams.
Silver climbed ₹ 2500
The price of silver is also constantly towards boom. According to the All India Bullion Association, the price of silver rose by Rs 2,500 to Rs 97,500 per kg on Tuesday. On Monday, the price of silver fell by Rs 500 to close at Rs 95,000 per kg.
What are experts saying
Chintan Mehta, Chief Executive Officer (CEO) of Abance Financial Services, said that gold prices remain close to the top level so far due to the weakening of the dollar and constant uncertainty over the US trade policy. He said that on Wednesday, everyone would be eyeing the upcoming press conference of the US Federal Reserve President Geom Powell, as investors want signs of what the central bank can respond if the trade war increases or the economic situation is weak.
Senior analyst at Commodities of HDFC Securities, Saumil Gandhi says that traders are now looking towards American macro data including NY Empire State Manufacturing Index to be released on Tuesday. Also, market participants will also be waiting for the speeches of Federal Open Market Committee (FOMC) member Thomas Barkin and European Central Bank (ECB) Chairman Christine Lagard for more information.
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