Gold Price Today: Gold and silver prices fell in Delhi's bullion market. The price of gold fell by Rs 50 to Rs 78,650 per 10 grams, while silver fell by Rs 1,000 to Rs 92,500 per kg. The main reason for this decline is said to be weak demand from local jewelers. Signals from global markets and the Federal Reserve are also affecting these prices.
Gold prices fell
Gold prices fell in Delhi's bullion market on Tuesday. Gold is now selling at Rs 78,650 per 10 grams. It has decreased by Rs 50.
Gold prices rose by Rs 200 on Monday to Rs 78,700. This was a record level.
Silver prices also decreased.
The price of silver fell by Rs 1,000 to Rs 92,500 per kg. The price of silver was Rs 93,500 on the previous day.
The price of gold of 99.5 percent purity also declined to Rs 78,250 per 10 grams.
impact of weak demand
Traders say that gold prices have fallen due to low demand from local jewelers. When demand is low, prices also fall.
position in the futures market
On the Multi Commodity Exchange (MCX), the price of gold for December delivery rose by Rs 54 to Rs 76,100 per 10 grams. At the same time, the price of silver contracts fell by Rs 101 to Rs 90,635 per kg.
The impact of global markets
Globally, Comex gold futures rose 0.16 percent to $2,669.90 an ounce. This means that gold prices have increased in the international market.
Federal Reserve signals
Motilal Oswal Financial Services analyst Manav Modi said that more signals are awaited from the Federal Reserve regarding US interest rates. This has brought stability in gold prices.
The situation in West Asia
The ongoing conflict in West Asia has also increased the demand for safe investments. Investors prefer to invest in gold at such times.
this week's meditation
This week, the focus will be on US retail sales, IIP, and China's GDP data. These figures will help in giving direction to bullion prices.
The global trend of silver
The price of silver in foreign markets rose by 0.08 percent to $31.34 per ounce. This shows that silver is also strengthening to some extent.
In this way, the prices of gold and silver are fluctuating. The impact of demand and global conditions is visible on these prices. Investors are now waiting for further signals.
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