Gold Price: Gold’s shine increased due to increased demand in the domestic market, silver price decreased by Rs 500

On Monday, a slight increase was seen in the price of gold in Delhi’s bullion market. On the other hand, the price of silver fell. The price of gold increased by Rs 50 per ten grams, while the price of silver fell by Rs 500 per kg. Domestic factors are being considered responsible for the slight increase in the price of gold. Actually, due to the increase in the demand for gold in the Indian bullion market, its prices saw a rise. On the other hand, the price of gold remained limited due to the weak trend in the foreign market.

Gold became expensive in Delhi, silver price decreased

Amid weak trend in the international market, the price of gold in the Indian bullion market on Monday rose by Rs 50 to Rs 75,150 per 10 grams. Whereas during the last trading session, the price of gold closed at Rs 75,100 per 10 grams. The price of gold rose due to increased demand in the domestic market. Apart from this, the price of silver fell by Rs 500 to Rs 94,000 per kg. Whereas in the last session it closed at Rs 94,500.

Also read: Tata Motors will provide training to students of Navodaya Vidyalaya, they will get a chance to do BTech along with job

How was the price of gold and silver in the international market

Talking about the foreign market, the price of one ounce spot gold was trading with a weak trend at $ 2,407.92 per ounce. At the same time, the price of silver was also down at $ 30.69 per ounce. There was a slight decline in the price of gold but it managed to stay above US $ 2,400 after the US Consumer Price Index (US CPI) data last week. After the release of the data, it saw a somewhat lower reading than expected, which raised hopes that the inflation rate would be low. Due to which the US Federal Reserve is expected to cut interest rates. Manav Modi, Senior Analyst, Commodity Research, Motilal Oswal Financial Services Limited, said that updates related to the US presidential election can increase volatility in the market along with geopolitical tension. Apart from this, investors will keep an eye on the statement of US Federal Reserve Chairman Jerome Powell.