Gold Silver Price: Heavy fall in gold and silver prices due to Trump’s statement, silver fell by ₹ 2,889 and gold by ₹ 1,121

Amid diplomatic changes at the global level, a big fall in the prices of gold and silver is being seen in the Indian Futures Market (MCX) on Wednesday. Precious metals, which closed with slight gains in the last trading session, are under strong selling pressure today.

While on the Multi Commodity Exchange (MCX), silver has fallen by Rs 2,889 (about 1%) to ₹ 2,67,230 per kg, gold has fallen by Rs 1,121 to ₹ 1,57,959 per 10 grams.

Why was there such a huge fall in gold and silver?

According to commodity market experts, the reason behind this diplomatic decline is the recent statement of US President Donald Trump. Trump has once again expressed confidence that the ongoing dispute with Iran will end “very soon”. Due to this statement, geopolitical tension has reduced a bit, due to which investors have started booking profits from gold and silver which are considered safe haven. However, given the crisis over Middle East oil supplies and uncertainty over peace talks, the market still remains extremely cautious.

Condition of the international market

Even on the global stage, prices of precious metals are seen slipping below record levels:

Spot Gold: With a decline of 0.3% $4,467.59 per ounce But is doing business. (This is close to the lowest level since March 30).

US Gold Futures: falling 0.9% $4,471.10 per ounce But it has arrived.

Spot Silver: falling 0.8% $73.22 per ounce But it is trending.

Cult advice and target levels from commodity experts

Market leading research heads and analysts have issued strategic support and resistance levels for investors and traders in view of the current decline:

1. Augmont Opinion (Renisha Chainani, Research Head):

Silver Outlook: Silver is currently at the very important cult point of $ 75 per ounce. If it breaks below the next support 70 dollars and then 67 dollars But it will be visible. After regaining control at the upper level it will again 80-82 dollars Can go to the zone.

Gold Outlook: gold in short term 4500 dollars Have got support. Next big support if it breaks 4300 dollars But it is. If prices bounce back from here, immediate upper target 4700-4750 dollars per ounce Will remain.

2. Diplomatic Levels of Prithvi Finmart (Manoj Kumar Jain):

Important diplomatic tip for traders: Investors or traders who have long (buying) positions are advised to maintain strict stop loss to avoid sharp fluctuations in the market. Also, booking profits as the upper targets approach would be a wise decision.