Gold Price Today: A big drop was recorded in the price of gold in the bullion market of the national capital on Tuesday. Gold of 99.9 percent purity fell by Rs 1,250 to Rs 78,150 per 10 grams. Similarly, the price of gold of 99.5 percent purity fell by Rs 1,250 to Rs 77,750 per 10 grams. On Monday also, a decline of Rs 1,000 was recorded in gold.

Silver also faced a decline

.Like gold, silver prices also witnessed a downward trend. On Tuesday, silver fell by Rs 1,100 to Rs 90,600 per kg. On Monday, the price of silver was Rs 91,700 per kg, which closed with a decline of Rs 1,600.

Impact on the global market

The bullion market was affected due to the strength of the dollar at the international level and US policies. Analysts say that due to the threat of former US President Donald Trump to impose additional duty on imports from China, Mexico, and Canada, investors' inclination increased towards the dollar. As a result, the safe investment appeal of gold weakened.

Condition of Comex and Asian market

Globally, Comex gold futures recorded a marginal rise. Gold futures rose by $13.40 an ounce or 0.51 percent to $2,656 an ounce. On the other hand, silver prices rose by 0.94 percent to $30.95 an ounce in the Asian market.

Change in investors' thinking

The easing of geopolitical tensions in West Asia and the strengthening of the US currency have diverted investors' attention from safe options like gold and silver. The effect of this change is clearly visible in the bullion market.

Further stance

Experts believe that if the dollar remains strong and volatility in the global market reduces, then gold and silver prices may fall further. Investors are advised to remain cautious for now.

It is worth noting that the strength of the dollar and the changing scenario of the global market have dimmed the shine of gold and silver. This is the time for investors to understand the market signals and make prudent decisions.