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The fall in international markets also affected the domestic market. On Monday, gold fell by Rs 450 to Rs 79,550 per 10 grams in the national capital’s bullion market. This information was given by the All India Sarafa Association. On Friday, gold closed at Rs 80,000 per 10 grams. The price of silver also fell by Rs 600 to Rs 94,000 per kg, whereas in the previous trading session, its price was Rs 94,600 per kg. The price of gold of 99.5 percent purity also fell by Rs 450 to Rs 79,150 per 10 grams. It closed at Rs 79,600 per 10 grams on Friday.
Gold prices are falling
Jatin Trivedi, Vice President Research Analyst (Commodity & Currency), LKP Securities said, “Gold prices are falling, Comex is down, the current price is below Friday’s closing price of $ 2,685 as strength in the dollar index is putting pressure on the yellow metal.” He said, “Rise in US bond prices after Donald Trump’s election victory is promoting corrective trend in bullion.” Globally, Comex gold futures fell by $ 17.80 per ounce or 0.66 percent to $ 2,677 per ounce. However, Comex silver futures rose 0.23 percent to $ 31.52 per ounce in Asian market.
Gold futures prices fall.
Gold prices on Monday fell by Rs 531 to Rs 76,741 per 10 grams in futures trade amid weak global cues. At the Multi Commodity Exchange, the price of the contract for delivery in December fell by Rs 531 or 0.69 percent to Rs 76,741 per 10 grams. 10,052 lots were traded in it. Market analysts said the fall in gold futures prices was due to the weak trend in global markets. Globally, gold fell by 0.59 percent to $ 2,678.80 per ounce in New York.
