Business Business,Gold prices gave relief to buyers. The price of copper declined with firmness in the rupee. In the national capital Delhi, 24 carat gold fell by Rs 500 to Rs 98,520 per kg. The All India Bullion Association said that 22 carat gold fell by Rs 400 to Rs 97,800 per kg. Silver prices along with gold also declined drastically. It fell by Rs 2,000 to Rs 1.12 lakh per kg. The rupee strengthened in the global market after US President Donald Trump imposed a 25 percent tariff on goods imported from India. It strengthened 22 paise against the dollar at 87.58. It is known that after the US announced on Wednesday that it would impose 25 percent tariff on Indian goods if it did not have a trade agreement before the August 1 deadline, the rupee closed at 87.80.

Soumil Gandhi, Senior Analyst (Commodities) of HDFC Securities, said that gold prices have declined. He said that the pressure on the bullion market has increased due to the strong dollar due to positive American large economic data. He said that the latest GDP data indicates that the US economy has increased in the second quarter. Jatin Trivedi, Vice President of LKP Securities, Jatin Trivedi said that gold prices are fluctuating. He said that amidst tariff concerns, Fed has not given any indication of cuts in interest rates in the near future. Gold prices rose in global markets. The spot gold rose 0.89 percent to $ 3,304.14 an ounce. Silver spotted in the foreign market fell 2.22 percent to $ 36.30 an ounce. Kayanat Chanwala, AVP of Commodity Research in Kotak Securities, said investors will be eyeing monetary policy, personal consumption expenditure (PCE) index, unemployment figures and US major economic data.