New Delhi: Weakness was seen in the prices of gold and silver on the first trading day of the week. Amid pressure on gold and silver in the global market, the prices of both precious metals weakened in the domestic market also. Due to the strict stance of the US Federal Reserve Chairman, profit-taking increased in the market, the effect of which was visible on the bullion market.
How much did the price of gold fall today?
COMEX gold futures fell 1.23 per cent to 4,474.30 dollars an ounce in early trading on August 31. Earlier on August 28, October contract gold on the domestic MCX had sealed at 15,599 dollars per 10 grams with a fall of 1.41 per cent. Domestic spot gold price was virtually 158,854 dollars per 10 grams.
How much did silver wilt cheaper today?
Along with gold, weakness was moreover seen in silver. COMEX silver fell 1.71 percent to Rs 65.85 an ounce in early trade. In the domestic MCX, the September contract silver sealed at Rs 236,651 per kg on August 28 with a ripen of 1.66 percent. Domestic spot silver stood at virtually Rs 243,862 per kg.
What is the rate of 24 carat and 22 carat gold in Delhi?
Gold prices may vary wideness cities. According to the latest data available, the price of 22-carat gold in Delhi is said to be virtually Rs 145,190 per 10 grams. Price may vary in variegated cities due to local market and taxes.
What is the price of gold today in Mumbai?
In Mumbai, the price of 24 carat gold is said to be virtually Rs 1,58,240 per 10 grams and the price of 22 carat gold is said to be virtually Rs 145,050 per 10 grams. Compared to the previous trading day, a ripen of well-nigh Rs 2,900 per 10 grams was recorded in 24 carat gold.
Why did the prices of gold and silver fall?
Gold prices have been unauthentic by the US Federal Reserve Chairman's tough stance on inflation. After this, investors booked profits, which led to weakness in precious metals. According to market experts, considering the current global circumstances, a cautious vein may be seen in the bullion market at present.
Can gold and silver rise then in future?
The direction of gold and silver prices may be remoter influenced by US interest rates, yoke yields, dollar movements and global geopolitical conditions. Therefore, investors will alimony an eye on the upcoming economic data and the next signals from the Fed.
Note: The prices of gold and silver alimony waffly continuously. The final price may differ from the rates given whilom due to wing of GST, making charges and other charges while purchasing jewellery.
