gold Silver
There has been a big decline in the price of gold and silver in the country's capital Delhi. Where the price of gold has come below 99 thousand rupees. At the same time, there has been a shortage of 4000 thousand rupees in the price of silver in two days. Before that, the price of silver is steadily increasing and had come to a record level with Rs 1.15 lakh per kg. According to experts, the prices of gold and silver will continue to be seen in the coming days. Let us also tell you how much gold and silver prices have gone in the country's capital Delhi.
According to the All India Bullion Association, gold prices in the country's capital Delhi declined in the second consecutive session and it declined by Rs 500 to Rs 98,870 per 10 grams. On Tuesday, gold with 99.9 per cent purity fell by Rs 200 to close at Rs 99,370 per 10 grams. Meanwhile, gold with 99.5 per cent of purity fell by Rs 400 to Rs 98,400 per 10 grams (including all taxes). It closed at Rs 98,800 per 10 grams in the last market session. Apart from this, silver prices fell by Rs 1,000 to Rs 1,11,000 per kg (including all taxes) on Wednesday. On Tuesday, this white metal closed at Rs 1,12,000 per kg.
On the other hand, gold spots in foreign markets increased by $ 16.41 or 0.49 percent to $ 3,341.37 an ounce. Gold increased to $ 3,346 an ounce due to President Donald Trump's new tariff threats. Trump has indicated a possible fee on drugs by the end of the month, as well as being considered on semiconductors. Globally, the spot silver rose by about 1 percent to $ 38.05 an ounce. Gold is getting stable while silver is declining. Silver prices reached $ 39 an ounce, which shows the new interest of investors.
Kayanat Chanwala, AVP of Commodity Research of Kotak Securities, said that new tariffs on 25 countries including Canada, Mexico and European Union are going to be implemented from August 1, so the ability to take risks remains low. Economics and the next generation of research head Carston Meenke said that in the last few weeks we have seen continuous investment in physically supported silver products, and in the futures market, especially in China, open interest. He said that technical traders further promoted the boom after going above the significant resistance levels of prices. Menke further said that given the recent boom and the fall of gold/silver ratio to about 85, silver does not look much cheaper than gold.
According to the Vice President Research Analyst of LKP Securities - Commodity and Currency, Jatin Trivedi, when this ratio was at 100, we had emphasized the ability to hold silver, but now it seems that this capacity is almost over. Investors will wait for major American broader economic figures, including the productive price index (PPI) and unemployment claims, which will provide more information about the direction of bullion prices.
