New Delhi : Gold prices fell by Rs 1,300 to Rs 81,100 per 10 gram as traders and retailers resumed selling in the national capital's bullion market on Monday, just after Diwali. This information has been shared by All India Precious Metals Association. According to All India Bullion Association, gold reached 99.9 percent purity in the last trading session. Last Thursday, the price had reached a high of Rs 82,400 per 10 grams in Delhi.
Silver prices fell below Rs 95,000. Silver fell by Rs 4,600 to Rs 94,900 per kg, but closed at Rs 99,500 per kg in last trade on Thursday. Traders said weak demand from jewelers and retailers in the local market weighed on gold prices.
Also read: TVS bike will come home for just Rs 5 thousand, this way the price will be covered
fall in gold price
Weak demand from sellers and retailers impacted prices (Concept photo – Social media from Ms.)
The price of 99.5 per cent pure gold fell by Rs 1,300 to Rs 80,700 per 10 grams. In the previous session, it had closed at Rs 82,000 per 10 grams, which is its highest level till date. Jatin Trivedi, vice president and research analyst (commodities and currencies), LKP Securities, said, “Gold prices have seen volatility as it has taken support around $2,730 on COMEX.
“US election results will be declared in the next two days, hence mixed sentiments are expected among the market participants, as a result of which gold on MCX will trade in a tight range of Rs 78,000-79,000,” he said. Futures rose 0.13 percent or $3.6 an ounce to $2,752.80 an ounce.
Also read: Case registered against Union Minister Kumaraswamy for threatening the investigating officer, threatened IG Chandrashekhar
Comments are closed.