Gold Price Update: On Monday, the price of gold has come down. Apart from this, silver has also become cheaper by Rs 206 in Delhi Bullion Market. Gold prices have fallen by more than Rs 4,200 so far from record levels.
New Delhi. The phase of fluctuations in the price of gold continued on Monday. After the day's trading, the gold rate closed down marginally. Between the domestic equity market and the rising foreign fund inflow, the rupee gained momentum against the dollar on Monday. Its effect was also seen on the gold-silver price in Delhi bullion market. On Monday, the price of gold closed at Rs 44 per 10 grams in Delhi Bullion Market. Silver has also declined by Rs 206 per kg.
New Gold Prices (Gold Price on 24 August 2020) -According to HDFC Securities, the price of 24-carat gold in Delhi bullion market has fallen by Rs 44 to Rs 53,040 per 10 grams on Monday. After trading on Friday, gold had closed at Rs 53,084 per 10 grams. In the international market, gold is trading at $ 1,950 an oz.
Talking about silver, its price also fell by Rs 206 in Delhi bullion market. After that now the price of one kg silver has come down to Rs 68,202. is. On Friday, silver had closed at Rs 68,408 per kg. Talking about the price of silver in the international market, it is trading at $ 26.80 an ounce.
Why the price of gold and silver rolled?
HDFC Security Senior Analyst (Commodity) Tapan Patel says that on Monday, the rupee saw a rapid U-turn of 52 paise against the dollar. At the same time, the domestic equity market continued to boom. Foreign investment has also increased. This has had an impact on the price of gold and silver. However, in the international market, both the precious metals are registering a boom.
has become cheaper by record level, Rs 4240 gold
Let us tell you that after touching the record level on August 7, gold prices continue to fall. During this time, the price of gold in the domestic market has become cheaper by Rs 4240 and silver by Rs 8860. Experts say that the biggest reason for the steep fall in gold prices in the past was the details of the Federal Reserve Meeting Minutes of America's Central Bank. The Fed's details indicate that the central bank meeting on September 18 may continue to soften interest rates.