Gold-Silver: There was a huge fall in the prices of gold and silver, gold became cheaper by ₹ 2,000 in one stroke, silver slipped by ₹ 6,000.

Gold-Silver Price Today 08 June: The war between Israel and Iran seems to be starting once again. Due to this, a huge decline has been recorded in the prices of gold and silver. As soon as the market opened on Monday, there was pressure in the prices of gold and silver. Gold prices fell by 0.82 per cent in the morning on the Multi Commodity Exchange (MCX). Whereas silver prices were seen trading with a decline of 1.64 percent.

On Monday, the price of gold on MCX fell by about Rs 2,000 and the price of 10 grams of gold came to Rs 1,54,315 lakh. At the same time, a fall of more than six thousand rupees was seen in silver. Silver is currently trading at Rs 2,44,469 lakh with a decline of about 2 percent.

Condition of gold and silver in international market

There is pressure on gold prices in the international market also. There was a decline in the price of gold for the second consecutive trading day. Experts believe that the strong employment data from America has influenced the thinking of investors. After these data, the expectation has increased that the US central bank Federal Reserve can keep interest rates at a high level for a long time. This is why investors are staying away from non-interest bearing assets like gold.

Spot gold prices have also declined. Earlier in the last trading session, there was a big fall of about three percent in gold, due to which the prices reached the lowest level in several months. A weak trend was also seen in American gold futures and their prices also declined.

Also read- Middle-East war wreaked havoc in the stock market, Sensex opened with a fall of 800 points, Nifty also slipped by 286 points.

Crude oil prices increased concern

Rising prices of crude oil are also increasing market concerns. Oil is becoming expensive due to the ongoing geopolitical tension in the Gulf region. There is a possibility of increase in global inflation due to increase in oil prices. If inflationary pressure persists, central banks around the world may be forced to keep interest rates high.