Bullion market: gold fell, silver also declined


Bullion market: gold fell, silver also declined

New Delhi, May 23 (Hindustan Times). Today, on the second trading day of the week, there is a downward trend in the Indian bullion market. In today’s trade, both the shiny metals gold and silver have softened. However, despite today’s fall, gold remains above Rs 60,000 per 10 grams level. But today’s fall has pushed silver below Rs 72,000 per kg.

In today’s trade, gold opened with a weakness of Rs 379 per 10 grams. Similarly, the price of silver has also declined by more than Rs 900 per kg today. Due to this softness in the market, gold started trading at the level of Rs 60,450 per 10 grams in today’s business. Similarly, the price of silver also fell to Rs 71,568 per kg today.

Earlier, the last closing price of gold on the previous trading day i.e. Monday was Rs 60,829 per 10 grams. The lustrous metal declined by Rs 379 per 10 gram in today’s trade, allowing gold to slip to Rs 60,450 per 10 gram (provisional). Gold today showed weakness in various ranges ranging from Rs.379 per 10 grams to Rs.222 per 10 grams.

According to the information provided by the Indian Bullion and Jewelers Association (IBJA), the average price of 24 karat (999) gold in the domestic bullion market today declined by Rs 379 to Rs 60,450 per 10 grams (provisional). happened. Similarly, 23 carat (995) gold prices declined by Rs 377 to Rs 60,208 per 10 grams (provisional). While the price of 22 carat (916) gold jewelery fell by Rs 347 per 10 grams today. Due to this, 22 carat gold reached the level of Rs 55,372 per 10 grams (provisional). Apart from this, 18 carat (750) gold today declined by Rs 284 to Rs 45,338 per 10 grams (provisional). While 14 carat (585) gold today became cheaper by Rs 222 to reach the level of Rs 35,363 per 10 grams (provisional).

Like gold, the price of silver also saw a declining trend today. In today’s trade, the price of silver (999) registered a weakness of Rs 953 per kg. Due to today’s fall, the lustrous metal fell to Rs.71,568 per kg (provisional) from the last closing price of Rs.72,521 per kg on the previous trading day i.e. Monday.

Experts believe that due to the continuous upheaval in the global economy including America, the international market is working under pressure. The possibility of a debt crisis, especially in the US, has put American investors in a state of confusion, which has also affected the world gold market. Fluctuations in the world gold market naturally have an impact on the Indian market as well. In such a situation, the period of ups and downs is likely to continue in the Indian market. Therefore, at present, instead of investing big in the market, small and retail investors should adopt a policy of small investment on every big fall.

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