500 rupees cheaper gold in 4 days, know the new price
Gold prices fell for the fourth consecutive day on Wednesday due to the softening of global markets. Gold futures in the Indian market fell around 0.3 percent this morning. In the last four days, gold prices have fallen by a total of Rs 500. On MCX this morning, the price of 24 carat purity fell to Rs 50,610 per 10 grams. Today it has declined 0.3 percent. Gold prices declined for the fourth consecutive session. At present, gold has become cheaper by about Rs 500.
Silver also declined
Silver prices have also declined along with gold. On MCX this morning, silver futures fell by 1.3 per cent to Rs 60,494 per kg. Gold prices have also declined in the global market. This morning the spot gold price fell 0.3 percent to ₹ 1,827.03 an ounce. Gold prices declined due to the strengthening of the dollar. If the dollar weakens in the near future, gold at its 20-year high could become more expensive.
How is the market today?
In global markets, silver spot prices declined by one per cent to Rs 21.21.45 an ounce in the morning. Apart from gold and silver, other precious metals have also declined. In the global market, platinum fell 0.7 percent to 9930.91 and palladium fell 0.8 percent to 181862.40.
There will be softness in gold
According to the information received, unusual fluctuations have been seen in the prices of gold in the last few days. Which is supposed to go on and on forever. A slowdown in global growth and inflationary pressures will not dampen the rise in gold prices, but higher interest rate hikes with the Fed will help the dollar and cause gold prices to fall again. According to the information received, the futures price of gold will be between Rs 50,440 to Rs 50,110. So the price of silver will be Rs 60,420 to Rs 59,550. Which can range from Rs 61580 to Rs 61910.