Gold-Silver Rate Today: Gold-silver prices fell again today, gold at Rs 1.41 lakh, know the price of gold-silver today

Gold-Silver Rate Today In India: Today on Thursday, there has been a huge fall in the prices of gold and precious metals in the Indian market. MCX was dominated by the red mark since the beginning of the trading session this morning. The direct effect of investors’ concerns and global tension is visible in the form of this big fall.

The increasing geopolitical tension between America and Iran has scared investors a lot. Apart from this, there are strong fears that the inflation rate will remain at a high level for a long time. Due to these reasons, the US Federal Reserve may also be forced to increase interest rates soon. This entire scenario is creating huge pressure on the precious metals market.

Heavy fall in gold prices

Weakness was recorded in gold futures price on MCX at 9:10 am on July 16. The price of gold fell by 0.39 percent to Rs 1,41,301 per 10 grams. There is huge pressure on gold due to profit booking and the dollar index hovering around 100.5. Investors are currently completely avoiding taking any big risks in the market.

condition of silver prices

Like gold, a huge downward trend has been seen in the prices of silver today. Silver futures prices on MCX fell by 0.44 percent to Rs 2,19,650 per kg. Instability in the Middle East and lack of industrial demand have pushed silver below Rs 2.20 lakh. This decline has surprised many big investors in the market.

Important opinion of market expert

Ravi Singh, Chief Research Officer, Master Capital Services has given his opinion on the market situation. He said weak US inflation data had reduced the chances of an immediate interest rate hike. But tensions in the Middle East and rising crude oil prices have again raised inflation concerns. For this reason, the Federal Reserve can keep the rates high, due to which there is pressure on gold.

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Global uncertainty and inflation

Tension in West Asia has increased significantly due to new attacks by America on the Iranian army. Apart from this, the American CPI inflation rate has come down to 3.5 percent in the month of June. A huge decline of 0.3 percent has also been recorded in the Producer Price Index (PPI). Despite this, due to global instability, selling continues in the gold and silver markets.