Gold Price Today: This is a great opportunity to buy gold and silver jewellery in the wedding season. The reason for this is that on Tuesday, there was a sharp decline in the price of gold in Delhi’s bullion market. Gold with 99.9% purity fell by Rs 490 to Rs 96,540 per 10 grams, while on Monday it was Rs 97,030 per 10 grams. At the same time, gold with 99.5% purity fell by Rs 450 and is now sold at Rs 96,130 per 10 grams.
Big Drop In Silver Price
On Tuesday, the price of silver in the Delhi bullion market dropped sharply, by Rs 1,000. Silver reached Rs 97,500 per kg, up from Rs 98,500 per kg on Monday.
Impact Of International Signals
According to HDFC Securities senior commodity analyst Saumil Gandhi, the market’s risk-taking sentiment is increasing due to expectations of improvement in US-China trade relations and a Russia-Ukraine ceasefire. As a result, the demand for gold, which is considered a safe investment option, has decreased.
Pressure Of US Federal Reserve Policies
Saumil Gandhi said aggressive statements by a US Federal Reserve official have put investors in a dilemma about future interest rates, which has hurt gold prices.
Global Market Situation
Spot gold rose marginally to $3,233.68 an ounce in the international market. At the same time, Kaynat Chainwala of Kotak Securities said that investors are now waiting for monetary policy signals from the speeches of US Fed officials. Additionally, voting on President Donald Trump’s proposed spending package and tax plans can affect the market.
Time For Investors To Be Cautious
The current decline in gold and silver prices is due to global events and policy instability. Investors must now wait for the next market signals and should consult experts before making any investment decision.
Disclaimer: STICOnline does not suggest any purchase or sale related to the stock market. We publish market-related analysis quoting market experts and brokerage companies. However, market-related decisions can only be made after consulting certified experts.
