Gold Rate: Big fall in the price of gold and silver2 min read
New Delhi: If you have made up your mind to buy gold and silver, then this opportunity is very good for you. The price of gold and silver is constantly slipping down, due to which there is a lot of enthusiasm among the customers in shopping. Gold prices fell by Rs 608 on Thursday, while silver also weakened by Rs 1,214 in the bullion market amid sluggish signs of international markets. According to HDFC Securities, gold fell by Rs 608 to Rs 52,463 per 10 grams, while silver fell by Rs 1,214 to Rs 69,242 per kg.
In the previous session’s trade, gold had closed at Rs 53,071 per 10 grams and silver at Rs 70,456 per kg. Senior analyst (commodities) at HDFC Securities Tapan Patel said, 24-carat gold lost Rs 608 in Delhi bullion spot market. This reflects the selling trend in the international market. In the international market, gold declined to $ 1,943.80 an ounce and silver to $ 26.83 an ounce.
Patel said, after the meeting of the Open Market Committee of the US Federal Reserve, the rise in the dollar index led to a sell-off in gold. The US central bank, the Federal Reserve, has indicated interest rates to remain near zero until 2023. The Federal Reserve has indicated this in the wake of slowing economic recovery.
– Gold prices fall in foreign markets as well
Spot gold fell 0.3% to $ 1,954.42 an ounce in the overseas market today. Among other precious metals, silver fell 0.8% to $ 27 an ounce. Platinum fell 0.9% to $ 959.58 per dollar. Policymakers at the US Federal Reserve, the central bank of the US, indicated that their benchmark short-term interest rate would remain around zero until at least 2023