Delhi bullion market update news: The price of gold fell by Rs 200 to Rs 98,670 (including all taxes) per 10 grams per 10 grams due to continuous selling of stockist amid weak demand in foreign markets. In the last session, it closed at Rs 98,400 per 10 grams. At the same time, silver prices fell by Rs 500 to Rs 1,10,500 per kg (including all taxes). Silver closed at Rs 1,11,000 per kg on Wednesday. Silver spotted in the international market fell 0.11 percent to $ 37.86 an ounce.
The All India Bullion Association gave this information. The price of gold with 99.9 percent purity fell by Rs 500 to close at Rs 98,870 per 10 grams on Wednesday. Meanwhile, gold with 99.5 percent purity fell by Rs 200 to Rs 98,200 per 10 grams (including all taxes) on Thursday. In the last session, it closed at Rs 98,400 per 10 grams.
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According to the association, silver prices fell by Rs 500 to Rs 1,10,500 per kg (including all taxes) on Thursday. Silver closed at Rs 1,11,000 per kg on Wednesday. Chintan Mehta, Chief Executive Officer (CEO) of Abson Financial Services, said, “The demand for safe investment was reduced after the US-China tension was reduced after the AI chip ban and the demand for safe investment by President Donald Trump was close to the trade agreement with India.”
In the meantime, he said, Mexico and the European Union have been charged a 30 percent heavy duty. The possibility of further conversation about this kept the market fears under control. This has reduced the need for safe trade like gold, which is affecting prices.
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Mehta said that although widespread uncertainty stems from aggressive fees actions, has been providing some underlying support, which limited the fall in gold. Globally, the spot gold fell by $ 21.55 or 0.64 percent to $ 3,326.05 an ounce.
AVP-Join Research Kayanat Chanwala, in Kotak Securities, stated, gold declined due to retail sales figures, employment figures and many Federal Reserve officials, including traders adopting a vigilant stance before American comprehensive economic figures, including speeches.
Also read: Gold: Gold stabilized at Rs 98,600, stagnation in silver prices
According to the Vice President, Research Analyst (commodity and currency) Jatin Trivedi in LKP Securities, gold was trading at a weak stand below $ 3,330 per ounce due to the strength of US CPI inflation being stronger than 98.75, which reduced the expectation of immediate cuts by Federal Reserve. Silver spotted in the international market fell 0.11 percent to $ 37.86 an ounce. (Language)
Edited by: Chetan Gour
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