look news india
New Delhi: gold And there has been a huge fall in the prices of silver. At the end of the trading session on Tuesday, the price of gold fell by Rs 1450. With this, the price of 10 grams of gold in the capital Delhi closed at Rs 72200. Along with this, the price of silver also fell by Rs 2300 to Rs 83,500 per kg.
Gold and silver became cheaper
According to HDFC Securities, gold price fell by Rs 1,450 to Rs 72,200 per 10 grams. The price of gold on Monday was Rs 73650. Along with this, the price of silver also fell by Rs 2,300 to Rs 83,500 per kg, which was Rs 85,800 per kg on Monday.
Saumil Gandhi, senior commodity analyst at HDFC Security, said that this decline in the price of 24 carat gold has been seen due to the sluggish trend of the foreign market.
There was a decline in the international market also
Talking about the international market, gold is trading at $2,310 an ounce with a fall of $55 compared to the last trading session. While silver is trading at $ 26.80 per ounce. In the last trading session, silver had reached $ 27.95 an ounce. The price of gold in the international market is lower for two consecutive days.
This fall in the price of gold is being seen due to the ongoing tension in the Middle East and the possibility of the US Federal Reserve keeping bank rates high. Saumil Gandhi further explains that this fall in gold prices could be due to investors shifting their investments towards higher risk.
Jatin Trivedi, commodity and currency analyst of LKP Securities, says that in the coming days, the price of gold on MCX can reach Rs 70 thousand. If the tension in the Middle East calms down, then on another sale the price of gold can reach Rs 68,500 per ten grams.