New Delhi. Just after Diwali, on Monday, due to fresh selling by stockists and retailers in the bullion market of the national capital, gold was seen slipping from its record high and its price fell by Rs 1,300 to Rs 81,100 per 10 grams. All India Bullion Association gave this information. According to All India Bullion Association, in the last trading session i.e. last Thursday, gold of 99.9 percent purity was at its peak level of Rs 82,400 per 10 grams in Delhi. The price of silver also remained under selling pressure and it fell below Rs 95,000.
Silver fell sharply by Rs 4,600 to Rs 94,900 per kg, whereas in the last trading session on Thursday it had closed at Rs 99,500 per kg. Traders said sluggish demand from jewelers and retailers in the local markets weighed on gold prices.
….The price of gold of 99.5 percent purity fell by Rs 1,300 to Rs 80,700 per 10 grams. In the last session, it had closed at Rs 82,000 per 10 grams, which is its highest level till date. Jatin Trivedi, vice president, research analyst (commodity and currency) at LKP Securities said, “Gold prices witnessed volatile action as it found support around $2,730 on COMEX but struggled to move above $2,750. “Had.”
He said, “US election results are going to be out in the next two days, hence mixed sentiment is expected among the market participants, as a result of which MCX may trade in a tight range between Rs 78,000 to Rs 79,000.” Comex gold futures rose 0.13 percent or $ 3.6 an ounce to $ 2,752.80 an ounce. On the other hand, Comex silver futures in the Asian market rose by 0.78 percent to $ 32.94 an ounce.
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