Gold and silver price
Gold Rate Today 21st February 2025: On the last trading day of the week, there has been a big fall in gold and silver prices on Friday. The price of gold in the national capital Delhi fell by Rs 700 to Rs 88,750 per 10 grams on Friday due to the weak demand of jewelery vendors and stockists. With this, the gold record has come below the high level. The All India Bullion Association gave this information. Traders said that due to the weak demand of jewelery vendors, the price of gold with 99.5 percent purity declined by Rs 700 to Rs 88,350 per 10 grams. In futures trading, the price of a gold contract with an April supply on MCX declined by Rs 225 to Rs 85,799 per 10 grams. On Thursday, a record of 99.9 percent purity was closed at a high level of Rs 89,450 per 10 grams. The decline has also been strengthened due to weak global trends.
Jatin Trivedi, Vice President of LKP Securities, Research Analyst (Commodity and Currency) said, “The price of gold was weak and there was ups and downs. Gold in MCX ranged between Rs 85,900 to Rs 85,400, while the weakness of the rupee, despite the dollar index being stable, kept the prices above Rs 85,350. ” In addition, Trivedi reported that the focus of the market participants will be on the upcoming manufacturing, service and existing domestic sales figures, which may increase the volatility in gold prices.
Silver also broken
The price of silver in the local market has also fallen by Rs 300 to Rs 1 lakh per kg. Silver futures fell by Rs 283 to Rs 96,830 per kg for March supply on multi -commodity exchange (MCX). Comex silver futures weakened at $ 33.65 an ounce in the Asian market.
Effect of profit booking
Senior analyst of commodity at HDFC Securities, Saumil Gandhi said, “Gold prices came down from a record high on Friday, as businessmen made profit -booking after a long -standing boom in precious metals.” Gandhi said that in addition, the aggressive statements of the members of the Federal Reserve and the Federal Open Market Committee (FOMC) meeting have strengthened the alert stance of American policy makers towards cutting interest rates in view of continuous inflation. Due to this, there has been some profits in gold. Talking about the global market, Comex Gold futures fell by $ 11.19 to $ 2,944.91 an ounce for April supply. The spot gold also fell by $ 8.42 to $ 2,930.56 an ounce.
(With PTI/language input)
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