Gold fell 4% in four days, today the price fell below 70 thousand, know the latest rate

Gold prices have been rising for most of this year. However, the yellow metal’s attractiveness is waning after Donald Trump’s victory in the US presidential election and its prices are falling. Gold prices have fallen by more than 4% in four days since election day, while the broader US stock market has risen by about four percent. This is when investors are expecting the White House to reduce tax rates and increase duties. In the global market, the price of gold was at $ 2,618 an ounce as of late Monday night, down from a record of nearly $ 2,800 late last month. This also means that gold has lost its shine as the best-performing investment of the year. 

The rate fell below 70 thousand in the domestic market. 

According to the All India Sarafa Association, gold prices in the national capital once again witnessed a sharp decline on Thursday amid weak demand in global markets. The price of gold fell by Rs 700 to Rs 77,050 per 10 grams. The precious metal with 99.9 percent purity closed at Rs 77,750 per 10 grams in the previous session. At the same time, the price of 22-carat gold fell to Rs 69,300 per 10 grams. In this way, after a long time, gold has slipped below 70 thousand. 

There was a big drop in the price of silver. 

Silver also fell by Rs 2,310 to Rs 90,190 per kg, while in the previous session, it closed at Rs 92,500 per kg. Jatin Trivedi, Vice President Research Analyst – Commodity & Currency, LKP Securities, said that pressure has increased on gold prices. Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said, “The US dollar (USD) continued to rise after the election, reaching a new year’s high, which kept pressure on gold prices.”