Gold, Silver Price Today: The second day of the week was also a day of weakness for the Indian bullion market. Gold and silver prices decreased for the second consecutive day. The price of gold fell by Rs 1,250 per ten grams and the price of silver also fell by Rs 1,100 per kg. International factors are being held responsible for the decline in the prices of precious metals.
Gold and silver became cheaper in Delhi for the second consecutive day
Amid the strengthening of the dollar in the international markets, the price of gold in Delhi’s bullion market on Tuesday fell by Rs 1,250 to Rs 78,150 per 10 grams, which was Rs 79,400 per 10 grams on Monday in the last trading session. The price of silver also fell by Rs 1,100 to Rs 90,600 per kg. Which was at Rs 91,700 per kg in the last trading session. Meanwhile, the price of gold with 99.5 percent purity also declined by Rs 1,250 to Rs 77,750 per 10 grams from Monday’s closing level of Rs 79,000 per 10 grams.
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How was the trend in the international market?
Talking about the international market, the price of one ounce future gold in Comex was trading at US $ 2,656, up by $ 13.40 or 0.51 percent. The price of silver was also rising by 0.94 percent at $ 30.95 per ounce as compared to the previous trading session.
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The reason behind the loss of shine of bullion
Analysts said US President-elect Donald Trump’s threat to impose additional tariffs on imports from China, Mexico and Canada attracted investors towards the US currency, while easing of geo-political tensions in West Asia attracted safe investment options. Demand for (gold) reduced.
