Gold Price Today on 23 April 2024 : Gold prices fell for the second consecutive day due to weak global trend and profit-booking by traders. In the bullion market of the national capital on Tuesday, gold fell by Rs 1,450 per 10 grams to Rs 72,200 per 10 grams. The price of silver also fell by Rs 2,300 per kg. In Delhi, gold fell by Rs 1,450 to close at Rs 72,200 per 10 grams, HDFC Securities said. In the last trading session, gold had closed at Rs 73,650 per 10 grams. Similarly, the price of silver also fell by Rs 2,300 to Rs 83,500 per kg. Its previous closing price was Rs 85,800 per kg.
24 carat gold price
Saumil Gandhi, Senior Analyst (Commodity), HDFC Securities, said, “The spot price of gold (24 carat) in Delhi market was Rs 72,200 per 10 grams. This is Rs 1,450 less than the previous closing price. Spot gold in the international Comex (commodity market) stood at $ 2,310 an ounce, which is $ 55 below the previous closing price. Gold prices fell further on Tuesday due to subdued demand amid easing tensions in West Asia and signs that the US Federal Reserve will keep policy rates high for a longer period. Gandhi said businesses have also shifted their investments from assets considered safe to riskier assets. This has led to profit-booking in precious metals after the recent rally. Silver also declined and stood at $ 26.80 an ounce. In the last session it was at $27.95 an ounce.
How much can prices fall?
Jatin Trivedi, Vice President (Research Analyst), Commodity and Currency at LKP Securities, said that the falling trend of gold prices continues and the reason for this fall is the sharp softening of Comex Gold within two days. Trivedi said, “In the coming days, gold prices in MCX may get support around Rs 70,000.” However, if prices fall below this level, there could be another selloff towards Rs 68,500. The reason for this is the weakening of risk perception in West Asia.” Meanwhile, gold fell by Rs 754 to Rs 70,443 per 10 grams in MCX futures trade. The most traded June contract touched the day’s low of Rs 70,202 per 10 grams. Apart from this, silver contract for May delivery also fell by Rs 728, or 0.9 per cent, at Rs 79,851 per kg.
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