Gold price today: In the last seven trading sessions, the rising gold prices fell on Tuesday. Due to lethargy in global markets and selling of stockists, gold fell by Rs 200 to close at Rs 88,300 per 10 grams in Delhi Bullion Market. The price of gold with 99.5 percent purity also fell by Rs 200 to Rs 87,900 per 10 grams, which was Rs 88,100 per 10 grams in the previous trading session.
Silver price also declines
Silver prices also recorded a huge decline. On Tuesday, silver cheap Rs 900 to Rs 96,600 per kg, while its price was Rs 97,500 per kg in the last trading session. Traders say that this decline in gold prices was seen before the statement of US Federal Reserve Chairman Jerome Pavel in Congress. Investors are now monitoring signs of potential cuts in US interest rates.
Gold still at a high level
According to the All India Bullion Association, gold with 99.9 percent purity rose by Rs 2,430 to an all -time high of Rs 88,500 per 10 grams on Monday. In the last seven trading sessions, the price of gold had rose by Rs 5,660, or 6.8 percent. So far this year, gold has become expensive by Rs 8,910 or 11.22 percent.
Jatin Trivedi, Commodity Expert of LKP Securities, said that the upcoming US Consumer Price Index (CPI) figures and Pavel’s statement would prove to be very important for gold investors. The dollar index remains close to US $ 108, causing gold prices fluctuations.
Gold and silver in global markets
Gold prices also declined globally. Comex Gold Future was trading at $ 2,933.10 an ounce for April delivery. However, in day trading it gained $ 34 to a record high level of $ 2,968.39 an ounce. Comex silver futures in foreign markets also fell nearly 1 percent to close at $ 32.17 an ounce.
Gold prices rise in Indore
However, gold prices were seen in the local bullion market of Indore. Gold became expensive by Rs 200 per 10 grams on Tuesday.
Gold: Rs 87,300 per 10 grams
Silver: Rs 94,800 per kg
Silver Coin: Rs 1,100 per nos
All schools will remain closed on Wednesday 12 February in Delhi, UP and Haryana