Gold Silver Rate: Due to weak global signs, there was a huge decline in gold and silver prices in the country’s capital Delhi on Wednesday. In the bullion market, the price of 10 grams of gold fell by Rs 650 to Rs 96,850, while silver fell by Rs 1,450 to Rs 98,000 per kg.
Gold reduced from 97,500 to 96,850
According to the All India Bullion Association, the price of gold with 99.9% purity on Tuesday was Rs 97,500, which has now come down to Rs 96,850. At the same time, gold with 99.5% purity has fallen by Rs 700 to Rs 96,400 per 10 grams, which was Rs 97,100 on Tuesday.
Silver breaks for third consecutive day
This decline in silver prices has been recorded for the third consecutive day. On Wednesday, silver reached 1,450 cheap to Rs 98,000 per kg, while on Tuesday it was Rs 99,450 per kg.
What is the reason for the decline?
According to Chintan Mehta, CEO of Abson Financial Services, trade tension between the US and other countries is decreasing. China and the US have agreed to reduce the fees on each other for 90 days. Due to this, investors are keeping distance from safe assets like gold and prices are declining.
Little support from geopolitical stress
However, Mehta says that there is still tension in West Asia, which is providing some support to safe investment like gold.
International market also declines
In the global markets, the spot of gold has come down by $ 20.65 to $ 3,229.64 an ounce, which has also affected the domestic market.
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