Gold Silver Rate: Gold and silver prices in India have seen a decline even today. Experts say that due to the fall in the international level and the strengthening of the rupee, gold prices have fallen in the domestic market.
Gold Silver Price: In the domestic market, gold prices have come down from a record Rs 56,200 per 10 grams to Rs 50,437 per ten grams. In this sense, gold has become cheaper by Rs 5763 per ten grams in a month. At the same time, the price of silver in August was Rs 80,000 per kg. Which today has come down to Rs 61,250. Therefore, the price of silver has come down by Rs 18750 per kg.
On Monday, the first trading day of the week, gold and silver prices fell on the commodity exchange MCX. On MCX, gold fell 0.22% to Rs 50437 per 10 gram in early trade today. Similarly, silver futures fell 0.7% to Rs 61,250 per kg. In the previous session, gold had fallen by 0.3% while silver had fallen by 0.2%.
Fall in overseas markets – In global markets, gold has come down strongly to $ 1,900 an ounce. Experts say that there is pressure on gold prices due to the ongoing uncertainties about the relief package in America.
Changed equations – Experts say that spot gold in the foreign market has come down to $ 1898 an ounce with a slight change. However, the strong US dollar put some pressure on gold. US dollars, are generally considered as a safe-asset. At the same time, the holding of SPDR Gold Trust, the world’s largest gold-backed exchange-trade fund, fell 0.27% to 1,272.56 tonnes on Friday.
A sharp decline may come – Experts say that the dwindling concerns about the corona virus epidemic have reduced investment demand for gold. That is why there is pressure on prices. If the US dollar is strong in the coming days, then gold may fall.