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Gold rate today: Gold price declined for the second consecutive day today. Let us tell you that in the bullion market of the national capital on Tuesday, the price of gold fell by Rs 200 to Rs 79,000 per 10 grams. All India Bullion Association gave this information. On Monday, the price of 24 carat gold was Rs 79,200 per 10 grams. At the same time, the price of 22 carat gold fell by Rs 200 to Rs 78,600 per 10 grams. On Monday it closed at Rs 78,800 per 10 grams. However, bullion market experts say that the price of gold will fall further. Why would this happen? Let us know.
That’s why gold will become cheaper
According to Chintan Mehta, CEO of Abans Holdings, the US dollar strengthened due to better-than-expected US manufacturing PMI data, keeping gold prices almost flat. At the same time, some experts say that the global situation has changed with Trump’s arrival. The attraction towards gold is expected to reduce due to changing global conditions. Investors will turn to bonds and other investment vehicles. The demand for gold will also reduce due to the wedding season in India being halted for some time. Due to this, further decline in the price of gold may be seen in the coming days.
Dollar strengthens after Trump’s warning
Manav Modi, Analyst (Commodity Research), Motilal Oswal Financial Services Ltd, said gold and silver prices witnessed a rise in dollar terms in the previous session after US President-elect Donald Trump warned of imposing heavy tariffs on BRICS countries. Came after strengthening. Modi said Trump’s warning hurt the currencies of the BRICS member states and pushed the dollar higher as traders fear more protectionist policies from the US. This led to further decline in the rupee and it reached its all-time low. He said signs of an ongoing Israel-Hezbollah ceasefire also dampened safe-haven demand for gold, although rising tensions between Russia and Ukraine kept some safe-haven buying going.
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