Gold-Silver Price: Silver became cheaper by Rs 7,000 due to Trump’s announcement, now gold has become this much cheaper.

New Delhi. US President Donald Trump has announced that the ceasefire between US and Iran is ending. In such a situation, a huge decline is now being seen in the prices of gold and silver. The price of gold on MCX has jumped by Rs 2177 to Rs 143215 per 10 grams. Apart from this, the price of silver MCX rose by 6615 and is trading at 224242 per kg. There has been a huge fall in the prices of gold and silver in the international market also. The price of gold is falling 2.38 percent and is trading at $ 4,058 an ounce. Silver is trading at $ 58.945 an ounce, slipping 3.89 percent.

Read :- Hormuz is our biggest strength, we will not retreat from it under any circumstances: Iran

Due to the strengthening of the US Dollar and increase in crude oil prices, there is a continuous decline in the prices of gold. Due to weakening demand for gold, which is considered a safe investment, its prices reached its lowest level in about a week.

How much did gold and silver fall in a month?

There has been a big fall in the prices of gold and silver in the last one month. On MCX, gold has become cheaper by about 5.6 percent and silver by 10.8 percent. This is believed to be due to the strong US dollar, increased concerns about interest rates and profit booking by investors after record highs.

Although gold prices declined, many analysts say that due to increasing geopolitical tension in the Middle East and increased concerns about the safety of ships around the Strait of Hormuz, investors may turn to gold as a safe investment in an uncertain environment.

Read :- US-India Trade Deal: Trump gave great news, America lifted the ban on Indian companies

However, gold remains under pressure due to the strengthening of the US dollar and rising US bond yields. In such a situation, on one hand geopolitical tension is increasing the demand for gold, while on the other hand the strong dollar and pressure from global markets are pulling down its prices. Therefore, at present the movement of gold is stuck between these two opposite factors.