Gold and Silver Rates Today: There was a huge fall in the prices of gold and silver on Thursday. In the country’s capital Delhi, gold prices fell by Rs 800 per 10 grams, while silver fell by Rs 2000 per kilogram. Experts believe that this decline has come due to the recent decision of the US Federal Reserve and economic signals being received at the global level.
Current prices of gold and silver
In Delhi, gold of 99.9 percent purity closed at Rs 78,300 per 10 grams, while its price on Wednesday was Rs 79,100. Similarly, silver prices fell to Rs 90,000 per kg, which was Rs 92,000 in the previous session. A decline was also seen in the futures market. Gold contracts for February delivery are trading at Rs 76,350, showing a decline of 0.4%.
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what happened in the international market
Internationally, gold prices on Comex fell by US $ 19.10 an ounce to US $ 2,634.10 an ounce. Silver prices also fell by 2.47% to US $ 29.98 an ounce.
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What was the main reason for the decline?
The main reason for the fall in the prices of gold and silver in the international market is the statement of US Federal Reserve Chairman Jerome Powell. The US Fed has indicated that interest rates will be cut only twice by 2025, whereas earlier it was estimated to be cut four times. HDFC Securities Senior Analyst Saumil Gandhi said, “After the Federal Open Market Committee (FOMC) meeting, gold prices have fallen sharply. Expectations of a slow pace of interest rate cuts have influenced the market.”
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Looking ahead and prospects
Experts believe that gold and silver prices may continue to remain volatile in the near future. Chintan Mehta, CEO of Abans Holdings, said, “Investors are waiting for the data on unemployment claims and personal consumption expenditure (PCE) in the US. These data will provide more clarity about the direction of the market. Prices “The decline could be a good opportunity for investment.”
Nish Bhatt, Founder and CEO, Millwood Kane International, said, “Potential announcements related to trade tariffs after the new government takes power in the US can impact gold prices. However, considering the global geo-political situation, gold is a “Will remain a strong investment option.”
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What should investors do?
In the current situation, investors are being advised to proceed with caution. According to Soumil Gandhi, “If the US Fed’s rate cut is delayed, there could be a short-term decline, which could be a good opportunity for investment.” Apart from this, the weakness of rupee in the Indian market can also affect the prices of gold and silver. Although the current decline has increased uncertainty in the market, there remains a possibility of rise in gold prices in the long run. In such a situation, experts say that long term investors can ignore these declines and gradually increase the share of gold in their portfolio. Experts believe that this could be the right time to invest in gold, because it is an option that gives stable returns in the long run.
