Bullion market: gold fell, silver also declined

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New Delhi, May 23 (Hindustan Times). Today, on the second trading day of the week, the Indian bullion market is in a declining trend. In today’s trade, both the shiny metals gold and silver have softened. However, despite today’s fall, gold remains above the level of Rs 60,000 per 10 grams. But today’s fall has pushed silver below Rs 72,000 per kg.

In today’s trade, gold showed a weakness of Rs 379 per 10 grams. Similarly, the price of silver also declined by more than Rs 900 per kg today. Due to this softening in the market, gold started trading at the level of Rs 60,450 per 10 grams in today’s business. Similarly, the price of silver also fell to Rs 71,568 per kg today.

Prior to this, the last closing price of gold on the previous trading day i.e. Monday was Rs 60,829 per 10 grams. In today’s trade, the shiny metal declined by Rs 379 per 10 grams, due to which gold slipped to Rs 60,450 per 10 grams (tentative). Gold today showed weakness in different categories ranging from Rs.379 per 10 grams to Rs.222 per 10 grams.

According to the information provided by the Indian Bullion and Jewelers Association (IBJA), the average gold price of 24 carat (999) gold in the domestic bullion market fell by Rs 379 to Rs 60,450 per 10 grams (provisional) today. happened. Similarly, the price of 23 carat (995) gold declined by Rs 377 to Rs 60,208 per 10 grams (provisional). While the price of jewelery i.e. 22 carat (916) gold fell by Rs 347 per 10 grams today. With this, 22 carat gold reached a level of Rs 55,372 per 10 grams (provisional). Apart from this, the gold price of 18 carat (750) today declined by Rs 284 per 10 grams to Rs 45,338 per 10 grams (provisional). While 14 carat (585) gold today became cheaper by Rs 222 to reach the level of Rs 35,363 per 10 grams (provisional).

Like gold, the price of silver also showed a declining trend today. In today’s trade, the price of silver (999) registered a weakness of Rs 953 per kg. Due to today’s fall, the price of the shiny metal fell to Rs 71,568 per kg (provisional) from the last closing price of Rs 72,521 per kg on the previous trading day i.e. Monday.

Experts believe that due to the continuous upheaval in the global economy including America, the international market is working under pressure. The possibility of a debt crisis, especially in the US, has put American investors in a state of confusion, which has also affected the world gold market. The ups and downs in the world gold market naturally have an impact on the Indian market as well. In such a situation, there is a possibility of continuous volatility in the Indian market at present. Therefore, at present, instead of making big investments in the market, small and retail investors should adopt a policy of making small investments on every major decline.