New Delhi: There was a slight ripen in the prices of gold and silver in the bullion market wideness the country on Saturday. 24-carat gold became cheaper by well-nigh Rs 10 to Rs 157,900 per 10 grams, while the price of silver saw a ripen of Rs 100 and traded virtually Rs 28,990 per kg. This slight fall without several days of continuous rise has attracted the sustentation of worldwide buyers and investors.
Why did gold prices fall?
According to market experts, there is pressure on gold prices due to the strength of the dollar in the international market and profit booking by investors. For the last few days, gold was continuously hovering virtually record levels. In such a situation, many investors started withdrawing profits without ownership at higher prices, the effect of which was visible in the prices.
Was silver moreover unauthentic by the global market?
A slight softening was moreover seen in the prices of silver. Experts say that due to fluctuations in industrial demand and weakness in the international market, the movement of silver remained slow. However, in view of the wedding and festival season, there is still demand in the market, due to which the possibility of a major ripen is considered to be low at present.
Is this considered a good ownership opportunity?
Bullion traders say that this fall in prices is not very big, but for those who had been waiting to buy gold for a long time, this could be a good opportunity. Experts believe that in the coming time, due to global economic conditions and geopolitical tensions, gold may rise again.
How can the market move in the coming days?
Now the uncontrived impact of American interest rates, dollar alphabetize and international economic conditions will be seen on the market. If uncertainty increases at the global level, gold and silver prices may rise again. At the same time, if the dollar remains strong then there may be pressure in the market for some time. At present investors are keeping an eye on every small change.
