Gold price
Gold Price Today: Due to weak demand of jewelery traders and selling of investors, gold fell by Rs 500 to two weeks low in the bullion market of the national capital on Friday to Rs 87,700 per 10 grams. Akhit Bharatiya Bullion Association gave this information. In the last trading session, gold with 99.9 percent purity closed at Rs 88,200 per 10 grams. So far this year, gold prices have increased by Rs 8,310 or 10.5 percent to Rs 87,700 per 10 grams, while on January 1, gold prices were Rs 79,390 per 10 grams. On Friday, the price of gold with 99.5 percent purity fell by Rs 500 to Rs 87,300 per 10 grams. Its previous closed price was Rs 87,800 per 10 grams.
Large fall in silver for the third consecutive day
The price of silver also fell by Rs 2,100 to Rs 96,400 per kg amidst the decline of third consecutive day. While its previous closed price was Rs 98,500 per kg. The vice -president (commodity) of Mehta Equius Limited, Rahul Kal Minister said, “Gold and silver declined once again due to a huge bounce in the dollar index. The announcement of the US President’s new fee on Mexico and Canada from March 4 strengthened the dollar, which increased the pressure on bullion prices. “According to commodity experts, the announcement of Trump’s announcement of imposing an additional 10 per cent fee on China has increased the expectation in the markets about the possible postponement of these tariff rates.
Prices in global market
On the global front, comex gold futures fell by $ 21.20 an ounce to $ 2,874.70 an ounce. Also, the spot gold fell $ 15 an ounce to $ 2,862.53 an ounce. Chintan Mehta, Chief Executive Officer of Abson Holdings, said, “Gold prices are improving due to strong US dollar. This indicates that the US Federal Reserve may delay the rate cuts due to constant inflation pressure in the economy. ”Comex silver futures in the Asian market were trading at $ 31.72 an ounce with a decline of 1.21 per cent.
(With PTI/language input)
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