A fall in the price of silver was observed in the capital of the country Delhi on Wednesday. On the other hand, no change has been observed in the price of gold. This means that the prices which were there on Tuesday were also observed on Wednesday. On the other hand, a huge fall in the prices of gold is observed in the overseas markets. A day ago, a rise in the price of gold was observed in the capital of the country Delhi. Due to which the price of gold had crossed Rs 74300 in Delhi. Let us also tell you what kind of figures will be seen in the Delhi bullion market on Wednesday.
Gold and silver prices in Delhi
Gold price remained stable at Rs 74,350 per 10 grams in the Delhi bullion market on Wednesday. However, silver price fell by Rs 400 to Rs 87,800 per kg. In the last session on Tuesday, silver closed at Rs 88,200 per kg. Meanwhile, the price of gold with 99.5 per cent purity also remained unchanged at Rs 74,000 per 10 grams. Traders attributed the fall in silver prices to weak demand from industrial units and global impact.
Big drop in gold prices on foreign markets
On the other hand, the international gold and silver prices are falling. On the Comex market in New York, the gold futures have fallen by 13 dollars and the price has dropped to 2,540 dollars per ounce. Meanwhile, the spot gold price has experienced a fall of more than 17 dollars per ounce and the price has reached 2,507.21 dollars per ounce. If we talk about silver, the silver futures price is quoted at 29.85 dollars per unit with a fall of 2 percent. On the other hand, spot silver falls by 1.60 percent and the price stands at 26.37 dollars per ounce.
read this too
What do the experts say?
Saumil Gandhi, senior commodity analyst at HDFC Securities, said gold prices remained marginally lower during the European trading hours on Wednesday as the US dollar edged higher. According to Kainat Chainwala, assistant vice president, commodity research at Kotak Securities, COMEX gold is trading above $2,500 per ounce, which is supported by the minutes of the FOMC meeting. Chainwala said rising geopolitical tensions, particularly the escalation of the conflict between Israel and Hezbollah, have also strengthened gold prices as a safe haven asset. In global markets, silver was also trading below $29.93 per ounce.
