highlights
There was a rise in gold prices for 4 consecutive days.
There was pressure on gold and silver prices in the global market since morning.
There was a big fall in the prices of gold in Delhi bullion market by 2024.
New Delhi. Before the Holi festival, great news has come from the bullion market. Just before the Holi festival, there has been a big fall in the prices of gold and silver. The situation in the bullion market today was such that gold has gone down by 2 percent from its record level. Earlier, there had been a rise in the prices of gold for 4 consecutive days in the whole week, but since this morning itself, pressure was visible on the prices of gold and silver in the global market.
There was a big fall in the prices of gold in Delhi bullion market by 2024. Amid signs of weakness in global markets, the price of gold fell by Rs 875 to Rs 66,575 per 10 grams in the bullion market of the national capital on Friday. HDFC Securities said that in the last trading session, gold had closed at Rs 67,450 per 10 grams. The price of silver also fell by Rs 760 and closed at Rs 76,990 per kg. In the previous trading session, it had closed at Rs 77,750 per kg.
Read this also – After completing his studies from IIT, he started selling Chicken Biryani, now demand comes from 40 cities, revenue crosses Rs 300 crore.
What is the price of 24 carat gold?
HDFC Securities research analyst Dilip Parmar said, ‘The spot price of gold (24 carat) in Delhi markets was at Rs 66,575 per 10 grams, which shows a decline of Rs 875 from the previous closing price.’ In the international market Comex (commodity market), spot gold was trading at $ 2,167 an ounce, which is a decline of $ 35 from the previous closing price.
Why did prices fall?
Pranav Mer, Vice President, Research (Commodities & Currencies) at BlinkX and JM Financial said, “Gold prices are on the back of profit booking/long liquidations after rate cut by Swiss National Bank, better than expected PMI and housing data and sharp rise in dollar index. Prices are down about two percent from their all-time high. Silver was also trading at $ 24.45 per ounce, which was at $ 25.51 per ounce in the previous trade.
Read this also – Where did the gold come from, where did it reach, the one who bought it even for Rs 10,000, is now sitting on a pile of money, it has become 84 lakhs
Strong dollar weakened gold
Jatin Trivedi, Vice President, Research Analysis, LKP Securities, said, ‘There has been a technical correction (fall) in gold prices in the last two sessions, which is influenced by the rise in the dollar index and profit-booking after the strong rally in March. Despite this, the overall outlook for gold remains positive. This means that in the coming time, there will be a big jump in the prices of gold again.
,
Tags: business news in hindi, Gold rate in Lucknow, gold investment, gold price, Holi festival, Silver Price Today
FIRST PUBLISHED: March 22, 2024, 21:23 IST