Gold price fell more than 3 percent on Monday
Gold Price: Gold prices in Delhi once again reached Rs 97,500 per 10 grams amidst strong trends in foreign markets on Tuesday. According to the All India Bullion Association, today gold with 99.5 percent purity rose by Rs 1000 to Rs 97,100 per 10 grams. On Monday, the price of 99.9 percent and 99.5 percent fell by Rs 3400 to Rs 96,550 and Rs 96,100 per 10 grams respectively.
Silver price recorded today
However, today the price of silver has once again recorded a decline. On Tuesday, silver fell by Rs 250 to Rs 99,450 per kg. Silver was at Rs 99,700 per kg on Monday. Chintan Mehta, CEO of Absse Financial Services, said, “The demand for safe investment after the US-China trade war has reduced again after a sharp fall in gold prices.”
Gold price fell more than 3 percent on Monday
At the global level, the spot gold reached $ 3253.38 an ounce. Kayanat Chanwala, AVP of Commodity Research in Kotak Securities, said, “Gold declined by more than 3 percent on Monday and closed at a low of 2 weeks. However, gold rose slightly on Tuesday and it rose above $ 3240 an ounce.” He said that the demand for a safe-sparkle has emerged amid reports of Israeli airstrikes at Huti rebels bases in Yemen.
Special eye will be on US inflation rates
Jatin Trivedi, VP Research Analyst (Commodity and Currency) of LKP Securities, said the market participants are eagerly waiting for the US CPI data later during the day. Trivedi said that the figure of inflation could affect the interest rate landscape of the US Federal Reserve, which can definitely see the impact of gold.
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