New Delhi: Gold and silver did not perform equally in the last session. While gold prices strengthened, silver weakened slightly. The market remained sealed on May 1 due to Labor Day; hence, the old rates remained workable on Friday also.
How much did the price of gold increase?
A good rise was recorded in the price of gold till the market closed. 24-carat gold reached virtually Rs 1.54 lakh per 10 grams. This increase was unmistakably visible compared to the previous session, due to which investors' inclination seemed to be moving towards gold again.
Why did the price of silver fall?
Unlike gold, silver prices declined. Its price dropped to virtually Rs 242,700 per kg. However, a slight recovery was moreover seen later in the futures market, which indicates that the market is not completely weak.
What was the condition of trading on MCX?
There was no trading on MCX during the day, but as soon as the market opened in the evening, a rise was seen in both metals. Gold was seen trading with a slight rise, while a good rise was seen in silver.
How are experts seeing the rise of gold?
Experts believe that the weak dollar and fall in US yoke yields have supported gold. Also, ownership at lower levels has moreover helped in maintaining the prices.
What is the price of gold in variegated cities of the country?
In big cities like Delhi, Mumbai, Kolkata and Lucknow, the price of 24 carat gold was virtually Rs 1.50 lakh per 10 grams. There were slight differences in variegated cities, but overall the rates remained stable.
What is going on in the international market?
In the global market too, a rise in both gold and silver was seen. Gold rose to whilom $4,600 an ounce, while silver moreover registered good gains. The fall in the dollar alphabetize made ownership increasingly lulu for international buyers.
What signals are there for investors?
The current situation shows that gold is strengthening again, while silver continues to fluctuate. In such a situation, it is important for investors to take any major visualization only without understanding the market trend.
