Today, a steep drop of Rs 317 has been recorded in the price of gold amid strong dollar. Today, gold fell by Rs 317 to close at Rs 46,382 per ten gram level in Delhi Bullion Market. Gold had closed at the level of 46,699 in the previous trading session. Commodity market experts say that the fall in price is a great investment opportunity because the history of 2020 will be repeated once again when gold reached the level of 56200 in August 2020.
Experts say that the rate of gold on MCX will cross the level of 50 thousand by this Diwali. HDFC Securities Senior Commodity Analyst Tapan Patel said that the rise in the dollar and the surge in US bond yields has put pressure on the price of gold. The dollar index was up 0.276 at 4.22 in the afternoon at 91.203. At the same time, for 10 years, the US bond yield is currently rising at the level of 1.609 per cent.
On one hand, the decline in gold was recorded, on the other hand, there has been a huge jump in the price of silver today. Today, silver rose by Rs 2,328 to reach the level of Rs 70,270 per kg. Silver had closed at Rs 67,942 in the previous trading session.
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