Gold, Silver Price Today: On Monday, the price of gold fell by Rs 200 to Rs 79,200 per 10 grams in Delhi’s bullion market. Which was closed at Rs 79,400 in the last trading session on Friday. During this period, the price of gold of 99.5 percent purity also fell by Rs 200 to Rs 78,800 per 10 grams. International factors are being considered responsible for this softening of metal prices.
The price of silver in Delhi also fell by Rs 2,200 to Rs 90,000 per kg on Monday, which was Rs 92,200 on Friday in the last trading session. The fall in silver prices was due to low demand from industry units and coin manufacturers.
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Softening of gold and silver was seen in foreign markets also
Talking about international markets, the price of one ounce of gold in Comex was trading at $ 2,657.50, down by $ 23.50 or 0.88 percent compared to the previous trading session. The price of silver was also down by 1.36 percent at US $ 30.69 per ounce.
Reason for softness in bullion market
Manish Sharma, commodity-currency assistant vice president at Anand Rathi Shares & Stock Brokers, said gold continued to fall after hitting an intraday intraday low of US$2,621 during Asian trade. He said that this decline was due to the improvement in the dollar. This was boosted by a rise in US bond yields and inflation concerns related to President-elect Donald Trump’s proposed tariff rates.
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According to Kainat Chainwala, assistant vice-president (commodity research), Kotak Securities, Comex gold closed with a weak bias last week as demand as a safe-haven option declined following the ceasefire agreement between Israel and Hezbollah in Lebanon. At the same time, concerns about persistent inflation have raised doubts about the pace of rate cuts next year, Chainwala said.
