Suspense Crime Sach Ka Dam
There was a big fall in the prices of gold and silver in the national capital. Gold fell by Rs 1,650 and came below the level of Rs 80,000. Silver also became cheaper by Rs 2,900 per kg. According to the All India Sarafa Association, the price of gold today fell by Rs 1,650 to Rs 79,500 per 10 grams. Its price had closed at Rs 81,150 per 10 grams on the previous day. According to PTI news, silver also fell by Rs 2,900 to Rs 93,800 per kg. On Wednesday, its price remained stable at Rs 96,700 per kg.
The prices fell due to these reasons.
According to the news, traders said that the main reason for the fall in prices is the sluggish demand from local jewelers amid weak trends abroad. Silver prices also fell due to weak demand from industrial units and coin makers. According to the All India Sarafa Association, the price of gold of 99.5 percent purity also fell by Rs 1,650 to Rs 79,100 per 10 grams. In the last session, it closed at Rs 80,750 per 10 grams.
How was the futures market
Gold contracts for December delivery were trading steady at Rs 76,655 per 10 gram in futures trading on the Multi Commodity Exchange (MCX). However, silver contracts for December delivery were trading lower by Rs 9 or 0.01 percent at Rs 90,811 per kg. Comex gold futures fell $1.90 per ounce or 0.07 percent to trade at $2,674.40 per ounce in the Asian market. In the global markets, silver fell 0.24 percent to $31.26 per ounce.
What do experts say
Jatin Trivedi, Vice President Research Analyst (Commodity & Currency), LKP Securities, said gold traded in a stable to narrow range as market participants awaited the results of the Federal Reserve (Fed) meeting tonight, which is expected to cut interest rates by 0.25 percent. Meanwhile, Saumil Gandhi, Senior Analyst, Commodities at HDFC Securities, said gold prices fell as safe-haven flows waned amid Trump’s trade enthusiasm and capital flows shifted to riskier assets like bitcoin and equity markets.
On the market outlook for gold, traders said the precious metal’s future movement will depend on the Fed’s commentary and subsequent rate decisions. While rate cuts are anticipated, the pace and extent of these cuts will be crucial to the yellow metal’s appeal.
