Gold-Silver Rate Today: Heavy fall in the prices of gold and silver in the Indian bullion market, know today’s price.

Gold-Silver Rate Today In India: Today once again a huge fall in the prices of gold and silver has been seen in the Indian market. Globally, precious metal prices have remained weak for the third consecutive week. The strong US dollar and the Federal Reserve’s tough stance on interest rates have greatly increased this severe decline. Due to international reasons, even in the domestic market today, investors booked huge profits and sold heavily in precious metals.

The US Federal Reserve has kept its interest rates stable but has given very clear signals of increasing policy rates. According to the CME Fedwatch tool, the probability of interest rate hike in December has now increased from 61 percent to 87 percent. The start of movement of oil tankers from Hormuz and the lifting of the blockade on Iran by America have also created huge pressure on the market. All these major geopolitical events and falling crude oil prices have completely taken away the shine of both the precious metals.

Heavy fall in gold prices

A big and huge fall of Rs 5350 i.e. 2.06 percent was recorded in the price of gold on MCX at 11 am today. After this terrible breakdown, the price of gold has fallen to the lowest level of Rs 1,46,240 per 10 grams. Gold futures contracts on MCX also opened at Rs 1,47,175 per 10 grams with a fall of Rs 2134 or 1.43 per cent. In the last trading session, it had closed strongly at a high level of Rs 1,49,378, which has now come down significantly.

Silver prices also fell flat

Along with gold, there has been a huge fall in the prices of 1 kg silver today, which has caused a big shock to the common investors. Silver prices fell by Rs 8,899, or 3.73 percent, to a much lower level of Rs 2,28,721 per kg. A huge shortfall of more than Rs 5000 in silver future contracts for July delivery was recorded prominently this morning. It opened at Rs 2,32,371 per kg while in the previous trading session, 1 kg silver had closed at Rs 2,37,620 per kg.

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International markets and Goldman Sachs

Internationally, spot gold has fallen sharply by 0.6 percent to $ 4184.33 an ounce. US gold futures for August delivery fell 1 per cent to $4202.10 and are trading under pressure. At the same time, spot silver is also clearly visible, falling by 1.5 percent and trading mainly at $ 64.83 an ounce today. Leading global bank Goldman Sachs has also reduced its gold price estimate for December from $5400 to $4900 an ounce.