The wedding season is going to start soon, which has also brought good news with it. In fact, a few days before the start of the wedding season, a decline in gold prices was seen. Which may be minor, but it can provide great relief to jewelry buyers. On Tuesday, gold prices fell marginally by Rs 200 in the national capital, while silver prices remained unchanged due to low local demand. Let us also tell you what the prices of gold and silver have become in the country’s capital Delhi…
How much did gold become cheaper?
According to market experts, the price of gold of 99.9 percent purity fell by Rs 200 to Rs 1,59,200 per 10 grams from Monday’s level of Rs 1,59,400 per 10 grams (including all taxes). However, silver prices remained stable at Rs 2,60,700 per kg. Analysts said easing geopolitical tensions boosted sentiment in domestic stock markets and supported the rupee, pulling investors away from precious metals. However, he said strong trends globally limited the downside in local markets, as bullion prices in overseas markets rose as concerns over energy-driven inflation eased.
Movement of gold and silver in foreign markets
In global markets, spot gold and silver traded nearly 1 per cent higher at US$4,344.36 and US$70.43 an ounce, respectively. Spot gold is benefiting from lower oil prices, which hit new lows on Tuesday as US Vice President JD Vance electronically signed the US-Iran deal, said Praveen Singh, head of commodities at Mirae Asset Sharekhan.
Meanwhile, silver remained around US$70.5 an ounce as traders adopted a cautious stance ahead of the release of key US economic data and the Federal Reserve’s policy decision, said Kainaat Chenwala, AVP Commodity Research at Kotak Securities. Jatin Trivedi, Research Analyst (VP), Commodity and Currency at LKP Securities, said market participants are also closely monitoring developments related to the US-Iran deal, which is impacting sentiment in bullion and commodity markets.
Leave a Reply