After the announcement of GST Reform and the meeting of Putin Trump, the expectations of the trade tension decreasing have added to the rupee. It has a big brake on gold prices. On Tuesday, there has been a big fall in the prices of gold and silver. Looking at the figures of Delhi's bullion market, there has been a decline of Rs 500 in gold prices and Rs 1,000 in silver prices. By the way, there has been a slight increase in the prices of gold and silver in the international market. According to experts, if the rupee continues to rise, then there can be more pressure in the prices of gold. Let us also tell you how much gold and silver prices have gone.
According to the All India Bullion Association, the price of gold fell by Rs 500 to Rs 1,00,420 per 10 grams in the country's capital Delhi on Tuesday. In the last market session, gold with 99.9 percent purity closed at Rs 1,00,920 per 10 grams. In the national capital, gold with 99.5 per cent purity fell by Rs 450 to Rs 1,00,050 per 10 grams (including all taxes) on Tuesday. On Monday, it closed at Rs 1,00,500 per 10 grams. Apart from this, according to the association, silver prices fell by Rs 1,000 to Rs 1,14,000 per kg (including all taxes) on Tuesday. In the last market session, this white metal closed at Rs 1,15,000 per kg.
Chintan Mehta, CEO of Absan Financial Services, said that during the meeting at the White House between US President Donald Trump and (Ukraine) President Volodimir Zelanski, there was some hope of ending war in Ukraine, after which there was a decline in gold prices. European and NAT leaders were also present in this meeting. According to Meera Asset sharekhan's Commodities and Currency Head, Praveen Singh, the weakness in the exchange rate of the dollar/rupee due to changes in GST rules by the Government of India is affecting domestic gold prices.
If we talk about overseas markets, then gold was trading in New York at $ 3,337.92 an ounce in New York. The spot silver was trading at $ 38.09 an ounce with a gain of 0.19 per cent. Augmont's research head Renisha Chanani said that the focus of investors at the Jackson Hole Seminar of the US Federal Reserve, the upcoming statements made at the Jackson Hole Seminar and focusing on the minutes of the recent meeting of the Fed came down to $ 3,380 per ounce.
Senior analyst of commodities at HDFC Securities, Saumil Gandhi said that on the Macro Economic Front, the US Housing Market figures, including the start of building permits and housing construction, will be released later on the day, which can lead to fluctuations in US dollars and gold prices during the session.
