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global markets Gold on Monday fell by Rs 185 to Rs 55,520 per 10 grams in the national capital’s bullion market amid a weak trend in the prices of the precious metal. In the previous trading session, gold had closed at Rs 55,705 per 10 grams. Silver also declined by Rs 798 to close at Rs 63,227 per kg. Let us tell you that in the last few days, gold has become cheaper by about Rs 25,000 from its record price. Silver has also declined. In such a situation, if you are going to buy gold and silver after seeing the cheap price, then wait for a while! Commodity experts say that the price of gold and silver will fall further. That means you will get a chance to buy cheaper gold and silver.
How far will the price of gold break
Anuj Gupta, Vice President, Research, IIFL Securities, told India TV Told that the price of gold will fall further. Gold will fall to $1800 an ounce in the international market. On breaking this level, gold will go up to $1780 an ounce. That is, the price of 24 carat gold in the Indian market will fall to Rs 54,000 per 10. Pressure will also be seen in the price of silver. There will also be a decline in silver. If any major event happens, then further fall in the price of gold can be seen.
Gold at two month low in global market
Gold prices on Comex declined in Asian trading hours on Monday after the US Federal Reserve is likely to continue raising interest rates in the first half of the year due to high inflation recently, said Sriram Iyer, Senior Research Analyst, Reliance Securities. fell to its lowest level in two months. In the international market, gold declined to USD 1,811 an ounce, while silver also declined to USD 20.75 an ounce.
fall in gold futures prices
Gold prices on Monday declined by Rs 65 to Rs 55,367 per 10 gram in futures trade as speculators reduced their positions due to weak demand in the spot market. On the Multi Commodity Exchange, the contract for delivery in April declined by Rs 65, or 0.12 per cent, to Rs 55,367 per 10 grams. There was a turnover of 11,196 lots. Market analysts said off-loading of positions by participants mainly influenced the fall in gold futures prices. Silver prices on Monday declined by Rs 458 to Rs 62,975 per kg in futures trade as participants reduced their positions amid weak demand in the spot market. On the Multi Commodity Exchange, silver for delivery in March declined by Rs 458, or 0.72 per cent, to Rs 62,975 per kg.
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