Gold Rate Today: The price of gold in Delhi’s bullion market today declined by Rs 500 to Rs 98,500 per 10 grams amid weak global signals and vigilant investment environment. This information has been given by the All India Bullion Association. At the same time, the price of gold with 99.5% purity also fell by Rs 500 to Rs 98,000 per 10 grams (including all taxes).
According to Chintan Mehta, CEO of Abans Financial Services, gold prices have been under pressure due to the international fee risk reduction and a vigilant attitude of the US central bank Federal Reserve. There has also been a slight decline in the demand for safe-investment assets from investors, which has weakened prices.
Mehta said that the details of the May meeting of the US Federal Reserve have indicated that the policy-makers are currently adopting a strategy of looking and waiting for the cut in interest rates. They are analyzing the impact of the recent policies, including the decision to stop the US court’s counter duty.
However, the price of silver in the local market remained stable at Rs 1,00,000 per kg on Thursday. This means that there was no fluctuations in silver prices compared to gold.
Another important thing is that the ongoing conflict between Israel and Hamas has increased instability in West Asia. This causes global uncertainty, giving gold some support as a safe investment option. That is, prices are falling due to other reasons, but due to geopolitical stress, the demand for gold has not been completely weak.
Talking about the international market, the price of the spot gold there has come down by $ 17.94 an ounce to $ 3,304.46 an ounce.
Kayanat Chanwala, Commodity Expert of Kotak Securities, said that investors are now waiting for big economic signs such as initial GDP figures, unemployment claims and pending cell data in the US, which will determine the direction of further prices. Overall, both international and domestic reasons are seeing softening in gold prices, while silver remains stable at the moment.
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