On Monday, gold fell by Rs 1,550 to Rs 91,450 per ten grams in the bullion market in the national capital due to heavy selling of jewelery vendors and stockists. On Friday, the price of gold with 99.9 percent purity fell by Rs 1,350 to Rs 93,000 per 10 grams.
Gold with 99.5 percent purity fell by Rs 1,550 to Rs 91,000 per 10 grams, which closed at Rs 92,550 per 10 grams in the previous trading session. Senior analyst of HDFC Securities-Sumil Gandhi said that the price of gold declined on Monday … as the stock market and other asset classes continue to be nervous selling, causing pressure on precious metals with safe investment.
Silver prices declines for fifth consecutive day
Continuing the fall for the fifth consecutive day, silver prices fell from Rs 95,500 per kg to Rs 3,000 to Rs 92,500 per kg. In the last five sessions, silver had fallen by Rs 10,500 per kg. On the global front, the spot gold fell by $ 10.16 to $ 3,027.20 an ounce.
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Jatin Trivedi, vice -president of LKP Securities, Jatin Trivedi, said that the perception of investors remained cautious, as they are expecting more clarity about its next step from the US amidst growing trade tension, especially amid growing trade tension. Trivedi said that the upcoming US Consumer Price Index (CPI) figures would play an important role in shaping the expectations of cutting interest rates, which would affect the direction of gold globally.
He said that investors for domestic markets will also closely monitor the monetary review meeting of the Reserve Bank of India later this week. However, silver spot in the Asian market increased by 1.65 percent to $ 30.04 an ounce.
According to Kotak Securities, US President Donald Trump’s fees and China’s retaliatory measures have weakened the market perception, showing a sharp fall in gold prices as per the widespread fall in the market. Language
Edited by: Sudhir Sharma