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Gold Price Today on 6th August 2024: Gold prices fell by Rs 1,100 to Rs 71,700 per 10 grams in the local bullion market on Tuesday due to weak demand from jewelers. Gold closed at Rs 72,800 per 10 grams in the previous trading session. The All India Sarafa Association said that silver prices continued to fall for the fourth consecutive session and today it fell by Rs 2,200 to close at Rs 82,000 per kg. Silver closed at Rs 84,200 per kg in the previous trading session. On August 2, the price of silver was trading at Rs 86,000 per kg, after which its price fell by Rs 4,200 per kg in four sessions. At the same time, the price of gold of 99.5 percent purity fell by Rs 1,100 to Rs 71,350 per ten grams. Its previous closing price was Rs 72,450 per 10 grams.
A steady decline
Market sources said gold prices fell due to reduced demand from jewelers and retail buyers. According to Dilip Parmar, research analyst at HDFC Securities, domestic gold prices are expected to get support due to weakness in the rupee and physical demand ahead of the festive season. Parmar said global uncertainty, central bank demand, and low interest rates are good signs for gold prices.
Price at the global level
In the international markets, gold fell by $ 20 to $ 2,409 an ounce in Comex. Silver was also trading with a decline at $ 26.94 an ounce in New York.
Gold and Silver futures prices
Domestic futures prices of gold and silver have also seen a decline today. On Tuesday evening, gold for delivery on October 4, 2024, was seen trading at Rs 68,955 per 10 grams on the MCX exchange, down 0.51 percent or Rs 354. At the same time, silver for delivery on September 5, 2024, was seen trading at Rs 79,140 per kg, down 0.58 percent or Rs 458.
