Gold-silver prices fell, find out the reason and today's price
Gold fell by Rs 140 to Rs 32,310 per 10 grams in the capital’s bullion market today on softening jewelery buying amid falling global gold and silver prices. Silver also fell by Rs 150 to Rs 41,350 per kg on reduced offtake by industrial units.
The pressure on the yellow metal has increased after the dollar reached a two-week high in the basket of other major world currencies. In international trade, gold in London is currently down 5. 5.55 at 1, 1,330.15 an ounce. US gold futures for June delivery also fell by 6.1 to 33 1,332.20 an ounce. Silver also fell by 0. 0.10 to .9 16.98 an ounce. Traders said demand for retail jewelery has weakened due to global pressure and high gold prices, which has pushed gold prices lower.
The situation was around 15th April
Gold-silver prices have soared amid rising tensions in West Asia. Gold has strengthened by Rs 300 to Rs 32,100 per 10 grams in the bullion market on the back of a global rally and increased demand from local jewelery makers.Silver also rose by Rs 250 to Rs 40 per kg on increased demand from industrial units and coin makers. Executives said rising tensions in West Asia have boosted global demand for gold as a safe investment. Along with this, rising demand from jewelery makers to meet retail demand at the local level has also pushed up gold prices.
Gold and silver market in January
Gold prices rose by Rs 350 to a 14-month high in the Delhi bullion market on strong global cues and increased domestic demand. Gold touched a low of Rs 31,450 per gram.
Bullion traders said gold has strengthened on strong global signals. Apart from that, the demand for gold has risen to a three-year low against the dollar. At the same time, the marriage has also boosted the local gold markets.
In the domestic market, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 350 each to Rs 31,450 and Rs 31,300 per ten grams, respectively. Which was the highest level since 9 November 2016. However, an 8-gram guinea is priced at Rs 24,800 per unit. So silver reached the level of 41 thousand rupees per kilogram.
