The price of precious metal gold fell for the second consecutive day in Delhi bullion market on Tuesday. There was a decline in gold in the bullion market of the national capital and it fell by Rs 200 to Rs 72,950 per 10 grams. In the last trading session, gold had closed at Rs 73,150 per 10 grams. However, according to Bhasha news, the price of silver jumped by Rs 800 to Rs 86,000 per kg. In the previous trading session, silver had closed at Rs 85,200 per kg.
trends in world markets
According to the news, Saumil Gandhi, Senior Analyst (Commodity), HDFC Securities, said that spot gold (24 carat) was trading at Rs 72,950 per 10 grams in Delhi markets, which is a decline of Rs 200 from the previous closing price. In the international market Comex (commodity market), spot gold was trading at $ 2,339 an ounce, which is a fall of eight dollars from the previous closing price.
Gold prices fell further on Tuesday as traders believe the US economy is likely to decline due to persistent inflationary pressures, hampering the US Federal Reserve’s plans to lower interest rates this year, Gandhi said. Can come. However, silver increased to $ 28.35 an ounce. In the last session it had closed at $ 28.10 an ounce.
Gold prices stuck in a range
Silver was quoted higher at US$28.35 an ounce. In the last session it had closed at US $ 28.10 an ounce. Gold prices are stuck in a range after Monday’s 1.3 percent fall, with the focus on US inflation data and the US Fed. Both the chairman’s speeches will be closely watched by traders for signs of any future rate cuts. However, silver prices continued to trade positive following bullish cues in industrial metals, said Pranav Mer, Vice President, EBG – Commodity & Currency Research at JM Financial Services Ltd.
Latest Business News