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After record-breaking rise, the price of gold is falling. Gold prices fell by Rs 250 to Rs 73,700 per 10 grams in the national capital on Thursday amid a fall in gold prices in global markets. HDFC Securities gave this information. In the last trading session, gold had closed at Rs 73,950 per 10 grams.
“Spot price of gold (24 carat) in Delhi markets was at Rs 73,700 per 10 grams, showing a fall of Rs 250 from the previous closing price,” said Saumil Gandhi, senior analyst (commodity), HDFC Securities. However, silver price remained unchanged at Rs 86,500 per kg.
The bullion market was closed on Wednesday on the occasion of Ram Navami. In the international market Comex (commodity market), spot gold stood at $ 2,375 an ounce, which is $ 13 less than the previous closing price.
Gandhi said that the aggressive comments of US Federal Reserve Chairman Jerome Powell have indicated that it will take longer than expected for the US Federal Reserve to reduce interest rates. Due to this, gold prices fell on Thursday. However, silver remained with a slight rise at $ 28.25 an ounce. In the last session it had closed at $ 28.20 an ounce.
Gold prices rise in futures market
Gold prices rose by Rs 32 to Rs 72,555 per 10 grams in futures trade on Thursday due to speculators buying fresh deals amid strong spot demand. On the Multi Commodity Exchange, the price of the contract for delivery in June increased by Rs 32, or 0.14 percent, to Rs 72,555 per 10 grams. 21,734 lots were traded in this. Market analysts said buying of fresh deals by traders led to the rise in gold futures prices. Globally, gold fell 0.19 percent to $ 2,390.50 an ounce in New York.