Gold fell by Rs 200 on the first day of the week, silver stable

At the beginning of the week, there was a decline in gold and silver due to lack of demand in the international market and both the precious metals remained soft in the domestic market also. According to market analysts, the tension between Iran and Israel has reduced and on the other hand, the demand for gold has stopped due to lack of clarity regarding the interest rate cut by the US Federal Reserve.

24 carat gold per 10 grams in Ahmedabad is Rs. Rs 200 were reduced. 74,500 was done. Similarly, 22 carat gold fell by Rs 200. 74,300 was done. Whereas the price of silver is Rs 2.55 crore. 81,000 per kg remained unchanged. In the global market, gold spot on Comex fell by $5 to $2,333 an ounce. Silver prices were seen at $27.52.

According to experts, the next move of the bullion market will be decided based on what decision is taken regarding interest rates in America. If the interest rate is cut then the rise in gold will get support and if the interest rate is increased then there will be pressure on gold and the price is likely to fall. At present the market is in a wait and see situation.