gold and silver The price has fallen today. Due to fall in the prices of precious metals in the global market, gold fell by Rs 150 to Rs 72,600 per 10 grams in the bullion market of the national capital. In the last trading session, gold had closed at Rs 72,750 per 10 grams. The price of silver also fell by Rs 750 to Rs 83,750 per kg. Earlier it had closed at Rs 84,500 per kg.
Gold prices continue to fall
Saumil Gandhi, Senior Analyst (Commodity), HDFC Securities, said that amid the softening trend overseas, spot gold (24 carat) in Delhi stood at Rs 72,600 per 10 grams, which is Rs 150 less than the previous closing price. In the international market Comex (commodity market), spot gold stood at $ 2,320 an ounce, which is $ 13 less than the previous closing price. Jatin Trivedi, Vice President (Research Analysis), Commodity and Currency Department at LKP Securities, said that gold prices continue to fall. The reason for this selling is the announcement of monetary policy in America on May 1. There is a possibility that the Federal Reserve may adopt an aggressive stance on interest rates.” Apart from this, there may be continued volatility in gold prices in the coming week. The reason for this is the release of key data like non-agricultural employment and unemployment figures.
Silver also fell in the global market
Silver also declined and stood at $ 26.80 an ounce. In the last session it had closed at $ 27.22 an ounce. Navneet Damani, senior vice president, commodity research department at Motilal Oswal Financial Services, said investors will wait for key economic data. This also includes US consumer confidence data to be released on Tuesday. If it remains lower than expected then it may support bullion prices at lower levels.
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