Gold Rate Today: If you are thinking of buying gold or silver, then this time can be beneficial for you as prices are currently declined. On Thursday, gold and silver prices fell drastically in Delhi’s bullion market. Due to the profits of stockists and weakness in the international market, 10 grams of gold fell by Rs 1,400 to Rs 99,620. At the same time, silver prices fell by Rs 3,000 and it is now being sold at Rs 1,15,000 per kg.
On Wednesday, gold with 99.9% purity closed at Rs 1,01,020 per 10 grams. Today, on Thursday, it came to 99,620. Similarly, gold with 99.5% purity also fell by Rs 1,200 to Rs 99,250 per 10 grams.
Why did such a big fall?
According to Pranav Mer of JM Financial Services, investors began to make profits due to the new trade agreement between the US, Japan and the Philippines. This reduced the demand for gold slightly. In addition, if the US also compromises with Europe and China, the glow of gold may decrease further.
HDFC Securities analyst Saumil Gandhi said that whenever there is positivity about trade in the global market, investors leave safe investment and start choosing risky options like stock market.
Jatin Trivedi of LKP Securities said that till last month, gold prices were continuously increasing as there was uncertainty about trade deals. But now when agreements are being made, the glow of gold has decreased slightly.
Impact of international market
In the international market too, gold fell $ 24.35 (0.72%) to $ 3,362.88 an ounce today. Silver is also trading at 0.53% to $ 39.05 an ounce.
What will be the focus next?
Anand Rathi’s Manish Sharma said that now investors are eyeing US weekly unemployment figures and S&P Global PMI report. Also, the decisions on the interest rates of the Federal Reserve and European Central Bank will also be important next week. This can lead to further movement in gold and silver prices in the coming days.