Gold Price: Saumil Gandhi, Senior Analyst (Commodity), HDFC Securities, said, “The spot price of gold (24 carat) in Delhi markets stood at Rs 73,700 per 10 grams, which shows a decline of Rs 250 from the previous closing price. However, the price of silver remained unchanged at Rs 86,500 per kg.
After the record-breaking rise, the price of gold is declining. Amid the fall in gold prices in the global markets, the price of gold in the national capital on Thursday fell by Rs 250 to Rs 73,700 per 10 grams. HDFC Securities gave this information. In the last trading session, gold had closed at Rs 73,950 per 10 grams.
“The spot price of gold (24 carat) in Delhi markets stood at Rs 73,700 per 10 grams, which shows a decline of Rs 250 from the previous closing price,” said Saumil Gandhi, senior analyst (commodity), HDFC Securities. However, the price of silver 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 remarks of US Federal Reserve Chairman Jerome Powell have indicated that the US Federal Reserve will take more time than expected to reduce the interest rate. This led to a fall in gold prices 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 rises in futures market
On Thursday, the price of gold rose by Rs 32 to Rs 72,555 per 10 grams in futures trade due to buying of fresh deals by speculators amid strong spot demand. In the Multi Commodity Exchange, the price of the contract for supply in the month of 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 a rise in gold futures prices. Globally, gold fell 0.19 percent to $ 2,390.50 an ounce in New York.
DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
