The time has come to fill the safe, huge fall in gold and silver, know the latest rates here

New Delhi: Due to heavy selling by jewelers and stockists, gold fell by Rs 1,400 to below Rs 80,000 in the bullion market of the national capital on Friday. Apart from this, a fall of Rs 4200 was recorded in silver. All India Bullion Association gave this information. Traders say that apart from this, there was heavy pressure on bullion prices due to weak trend in the international market.

Biggest decline in the month of December

Let us tell you that the price of gold of 99.9% purity fell by Rs 1400 to Rs 79,500 per 10 grams. In the last session it had closed at Rs 80,900 per 10 grams. Silver has fallen by Rs 4,200 to Rs 92,800 per kg. This is the biggest fall in the month of December. In the last trading session on Thursday, silver had closed at Rs 97,000 per kg. The price of gold of 99.5% purity also decreased by Rs 1400 to Rs 79,100 per 10 grams, whereas on the previous day its price was Rs 80,500 per 10 grams.

gold price in comex

Jatin Trivedi, vice president (research analyst) of LKP Securities, said that gold witnessed sharp selling due to profit booking after the fall in Producer Price Index (PPI) in the US and increase in weekly unemployment claims. Due to this, the price of gold in Comex (commodity market) has come down to $ 2670 per 10 grams. Gold futures on Comex fell by $ 18.60 an ounce to $ 2,690.80 an ounce. Silver fell 1.42% to $ 31.17 an ounce.

Know what commodity experts say

Saumil Gandhi, senior analyst (commodities), HDFC Securities, said the recovery in the dollar and mixed macroeconomic data in the US prompted traders to book profits ahead of the Federal Reserve's last policy meeting of the year, which led to a rise in prices on Friday. Gold prices fell. Even after the release of the data, traders are expecting a 0.25% cut in the key interest rate in next week's Federal Reserve meeting, but the path of monetary policy for the next year remains uncertain. Much remains uncertain. Also read…