Silver along with gold prices fell by Rs 973 to Rs 70,646 per kg during this period. It closed at Rs 71,619 in the previous session.
On Tuesday, gold prices fell by Rs 212 to Rs 47,308 per ten grams in the local bullion market amid a decrease in the prices of metals at the global level. HDFC Securities has given this information. In the previous trading day, the closing price of gold was Rs 47,520 per ten grams. Silver also declined by Rs. 973 to Rs. 70,646 per kg during this period. It closed at Rs 71,619 in the previous session.
Global market conditions
In the international market, gold fell to $ 1,834 an ounce, while silver remained almost unchanged at $ 27.34 an ounce. Tapan Patel, Senior Analyst (Commodities) at HDFC Securities, said, “Gold prices were under pressure due to the rise in the US bond markets and the strengthening of the dollar.
What do you know
Experts say that the data of the US economy has come down due to which the dollar will fall further. With this, the price of gold will see a further rise in the coming week. If you pay attention to bariki, the US stock index Dow and Nasdaq have reached their all-time highs. The American economy is not showing the expected improvement. In such a situation, instead of investing in the stock market, investors will move towards safe investment and due to increased investment in gold, the price of gold will again rise. On the other hand, the US bond yield has also declined. On April 30, the 10-year US bond yield was 1.626 percent, which dropped to 1.579 percent this week. It has recorded a decline of 0.47 percent in May. Whenever there is a drop in the yield, the price of gold is seen to increase.
