There has been a slight but slight decline in the price of gold in the country's capital Delhi. This decline may be seen in the coming days also. The special thing is that gold is still below Rs 1.25 lakh in Delhi markets. Experts believe that gold prices may remain low in the spot market in the coming days. Now the biggest question is whether there will be a big fall in gold prices in the coming days? Can the price of gold go down to Rs 1 lakh or even below? Let us also tell you what the prices of gold and silver have become in the country…
In the bullion market of the country's capital Delhi, the price of gold fell by Rs 100 to Rs 1,24,600 per 10 grams. All India Bullion Association has given this information. In the local bullion market, gold with 99.5 percent purity fell by Rs 100 to Rs 1,24,000 per 10 grams (including all taxes) from Thursday's closing price of Rs 1,24,100. Whereas gold with 99.9 percent purity had closed at Rs 1,24,700 per 10 grams in the last market session. However, on Friday, silver prices remained stable at Rs 1,53,300 per kg including all taxes. Globally, spot gold rose by $19.84, or 0.5 per cent, to $3,996.93 an ounce, while spot silver was trading 0.96 per cent higher at $48.48 an ounce.
According to commodity market experts, gold prices rose on Friday as investors looked for safe haven amid growing concerns over a possible AI-driven bullish bubble in stock markets and uncertainty over a prolonged US government shutdown. Meanwhile, the dollar index, which measures the dollar's strength against six currencies, fell 0.08 percent to 99.65. This supported gold prices. Due to the funding crisis, work in many government departments has come to a standstill (shutdown) for 38 days. This is impacting economic output and delaying the release of key macroeconomic data.
An expert said that due to market uncertainty, dollar weakness and prolonged shutdown, there is a possibility of further rise in gold prices. Jatin Trivedi, Vice President (Research Analyst…Commodity & Currency), LKP Securities, said market participants will keep a close eye on the speeches of Federal Reserve members and Consumer Price Index (CPI) data from both the US and India in the coming week.
