In the country’s capital Delhi, a rise in the price of gold was seen on Tuesday after falling a day earlier. On the other hand, the price of silver has fallen for the second day in a row this week. Where the price of gold has crossed 72500 rupees. While the price of silver has reached the level of Rs 91,500. According to experts, gold and silver prices may experience slight fluctuations in the coming days. Let’s see what the price of gold and silver has been today.
Gold and Silver Prices in Delhi
According to HDFC Securities, gold prices rose by Rs 70 to Rs 72,550 per 10 grams in the local Delhi market on Tuesday, in line with strong global trends. On Monday, the precious metal closed at Rs 72,480 per 10 grams. However, silver prices fell by Rs 400 to Rs 91,500 per kg. In the last session it had closed at Rs 91,900 per kg. In Delhi markets, spot gold (24 carat) prices were trading at Rs 72,550 per 10 gram, up Rs 70 from the previous close, said Saumil Gandhi, equity research analyst at HDFC.
Price of gold and silver in foreign markets.
On the other hand, if we talk about foreign markets, the prices of gold and silver seem to remain stable. According to the data, the future price of gold on Comex is trading at $2,342.30 per ounce with a slight decline of $2.10 per ounce. While the spot price of gold is trading at $2,328.69 per ounce with a drop of $6 per ounce. If we talk about silver in the Comex market, it seems flat. The silver future is trading at $29.87 per ounce and the silver spot price is trading at $29.53 per ounce.
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What do the experts say?
Gandhi said under the disappointing market sentiment, gold was trading in a limited range on Tuesday. He added that traders’ attention is focused on macroeconomic data due later this week, including US gross domestic product and the Federal Reserve’s preferred consumer inflation gauges, which could indicate that the central bank will make monetary policy more flexible.
According to Praveen Singh, associate vice president of fundamental currencies and commodities at Sharekhan at BNP Paribas, the yellow metal is expected to trade within a range ahead of US GDP inflation and personal consumption spending data ( PCE). Singh said the outlook is slightly bearish in the near term, although short covering can be expected to begin from Wednesday.
