Gold-Silver Price Crash: There was a sharp fall in the prices of gold and silver on Monday morning. As soon as the market opened on the first trading day of the week, there was a huge correction in the prices of both the bullion markets. If you are thinking of buying or investing in gold and silver today, then this news is very important for you.
Falling Gold Prices: How Cheap Today?
There was a sharp fall in gold prices this morning. MCX Gold Futures have fallen by more than 1%, taking 10 grams of gold below ₹1,55,000. By 10:40 am, gold was down by ₹1,334 and was trending at ₹1,54,561 per 10 grams. For some days, the price of gold was stable around ₹ 1.57 lakh, but today’s fall has given the market a chance to stabilize.
Heavy correction in the price of silver
Along with gold, the prices of silver have also declined. Silver futures with March expiry are down by about 3%. The price of 1 kg silver has fallen by ₹7,162 to ₹2,37,198 per kg. This decline is especially beneficial for those who did not want to buy at consistently high rates.
What is the reason for the price fall?
According to market experts, some reasons have caused the decline in prices today:
• Dollar strength: Due to strengthening of dollar in the international market, there has been pressure on the prices of gold and silver.
• Profit Booking: After the bumper rally in the last weeks, investors are now booking profits, which has led to a correction in prices.
• Global Market Sentiment: Even at the international level, the effect of changes in demand and supply of Gold-Silver is visible on the domestic prices.
Why is this a bumper opportunity in the wedding season?
Like almost every year, this year too the wedding-family season is in full swing in February-March. In such a situation, buying gold and silver is traditionally a big expense. Today’s fall for those great shopping opportunity Those who want to buy gold and silver for jewelery or investment in this season.
Keep this in mind before buying
The price of gold and silver is volatile and can change several times a day. So before purchasing Be sure to check the final rates from the local bullion market or a trusted jeweler.. remember that GST and making charges will be applicable separatelyTherefore, the total expenditure will also be decided accordingly.
Today’s Gold-Silver Crash for buyers cheap opportunity Is giving, but take decision only after understanding the movement of the market.
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