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The price of gold of 99.9 percent purity fell by Rs 150 to Rs 77,900 per 10 grams in the Delhi bullion market on Wednesday amid a weak trend in the international market. Gold of 99.9 percent purity had closed at Rs 78,050 per 10 grams on Tuesday. Silver also fell by Rs 500 to Rs 93,000 per kg today due to weak buying by coin makers and industrial units. Let us tell you that on Tuesday the price of silver had closed at Rs 93,500 per kg.
Gold of 99.5 percent purity also became cheaper.
Along with gold of 99.9 percent purity, gold of 99.5 percent purity also fell by Rs 150 to close at Rs 77,500 per 10 grams today. On Tuesday, the price of gold of 99.5 percent purity closed at Rs 77,650 per 10 grams. Let us tell you that due to the assembly elections held in Maharashtra today, the morning session of trading at the Multi Commodity Exchange (MCX) was closed on Wednesday. The exchange is trading in the evening session from 5:00 am to 11:55 pm. At the global level, Comex gold futures fell by $ 6 per ounce to $ 2625 per ounce.
Gold may get support amid rising tensions between Russia and Ukraine.
According to commodity experts, gold prices fell in the first half of the European session due to expectations of less aggressive monetary policy easing by the US Federal Reserve. He said that the deteriorating situation between Russia and Ukraine may provide some support to gold and reduce some losses. Apart from this, traders are waiting for the address of some members of the Federal Open Market Committee (FOMC) for indications of interest rate cuts. Silver was trading 0.99 percent lower at $ 31.38 an ounce in the Asian market.
