If you too are thinking of buying gold in the coming days, then there is good news for you. This is because it has become cheaper to buy gold today.
If you too are thinking of buying gold in the coming days, then there is good news for you.
Wedding season is going on. Because of this, people are fiercely buying gold and silver. in the coming days if you Golden If you are thinking of buying, then there is good news for you. This is because it has become cheaper to buy gold today. gold prices On Tuesday, it fell by Rs 101 to reach Rs 52,837 per 10 grams. According to HDFC Securities, this has happened due to weak global trend. In the previous trade, the yellow metal had closed at Rs 52,938 per 10 grams.
Silver prices also fall
At the same time, the price of silver has also declined by Rs 353 to Rs 61,744 per kg. Navneet Damani, Senior Vice President of Commodity Research at Motilal Oswal Financial Services, told that gold has fallen to its lowest level in more than a week. According to him, this is because the members of the US Federal Reserve have talked about the fight against inflation, due to which the dollar has seen a rise.
In the international market, gold declined to $1,753.25 an ounce. Whereas, the price of silver has also come down to $21.23 per ounce. Research analyst Dilip Parmar at HDFC Securities said that Comax Gold has declined. He told that a senior Federal Reserve official had said that rates could be increased further, after which the dollar index had strengthened overnight. According to him, the deteriorating condition of Corona in China has also brought gold down.
What are the rates in futures trading?
On the other hand, gold prices rose by Rs 243 to Rs 53,046 per 10 grams in futures trade on Tuesday. On the Multi Commodity Exchange, the contracts for delivery in October were trading higher by Rs 243, or 0.46 per cent, at Rs 53,046 per 10 grams. This is for a business turnover of 14,853 lots.
Let us tell you that after being in decline for some time last week, there was a jump in the prices of gold. By the end of the week, gold was trading with an increase of more than one per cent. At the same time, the dollar, which is considered an alternative to the safe haven, saw a jump in China due to the increase in corona cases. The situation in China raised concerns about the future of the global economy. Therefore, gold prices were weak in the beginning of the week.