Gold Price Today: On Thursday, the price of gold fell by Rs 350 in the bullion market of India's capital Delhi, bringing the price down to Rs 77,350 per 10 grams. Prices fell due to weak demand. At the same time, the price of silver has increased by Rs 300, which has now reached Rs 91,500 per kg.

previous day status

On Wednesday, the price of gold was Rs 77,700 per 10 grams. This decline is due to weak demand from local jewelers and retailers.

Continuous decline for three days

This decline has been continuing for three consecutive days. The price of gold has fallen by Rs 1,350 in the last three sessions. Gold of 99.5% purity is now being sold at Rs 76,950 per 10 grams.

Increase in the price of silver

On the contrary, the price of silver has increased by Rs 300. Now the price of silver has gone up to Rs 91,500 per kg. A day earlier, silver was at Rs 91,200 per kg.

local market influence

Gold prices are falling due to weak demand in the local market. Demand from jewelers has decreased, which has affected gold sales.

Trading in MCX

There has been a slight increase in the price of gold on the Multi Commodity Exchange (MCX). The gold contract for December delivery has increased by Rs 211 to Rs 75,145 per 10 grams.

Silver Futures

The price of silver contract for December delivery also increased to Rs 89,185 per kg.

US dollar impact

HDFC Securities analyst Saumil Gandhi said that the strength of the US dollar and the comments of the Federal Reserve policymakers have led to a decline in the price of gold. Due to these comments, the possibility of a big cut in interest rates has been reduced.

The state of the Asian markets

Silver futures rose 0.68% to $33.88 per ounce in Asian trading hours.

It is worth noting that the main reason for the fall in the price of gold and the increase in the price of silver is the decrease in demand and the strength of the US dollar. Traders will have to take care of this change.