Record height After reaching this level, the trend of falling gold and silver prices is not stopping. Today, for the second day, there was a big fall in the price of both the precious metals. Let us tell you that on Friday, amid the weak trend in the global market, the price of gold fell for the third consecutive day and it fell by Rs 900 to close at Rs 72,650 per 10 grams. In the last trading session on Thursday, gold closed at Rs 73,550 per 10 grams with a fall of Rs 1,050. Earlier on Wednesday, there was a slight fall of Rs 50 in the rupee. Meanwhile, the price of silver closed at Rs 92,100 per kg with a fall of Rs 500. In the last trading session, it closed at Rs 92,600 per kg.
hence the drop in price
According to HDFC Securities, gold fell for the third consecutive day. Gold fell after stronger-than-expected US economic data. The data strengthened the belief that the US Federal Reserve will keep interest rates high for a long time. Saumil Gandhi, Senior Commodity Analyst, HDFC Securities, said, “Amid signs of softening from foreign markets, spot gold prices in Delhi markets fell by Rs 900 to Rs 72,650 per 10 grams.” Spot gold was trading at $ 2,340 an ounce in the international market Comex (commodity market), which is $ 35 less than the previous close price. Silver also fell to $ 30.45 an ounce.
Is there a golden opportunity to buy?
Bullion market experts say that the price of gold and silver has risen a lot this year. This has happened mostly due to speculators. In such a situation, it would not be right to buy now. There is a possibility of further fall in the price. If you want to buy, then it would be beneficial to wait a little.
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