Due to the decrease in the price of gold in the international market, its effect was also seen on the Indian markets. The price of gold declined by Rs 505.
Fall in the price of gold
In Indian markets today, ie on 28th April, there was a tremendous fall in gold price (Gold Price Today). On Wednesday, gold prices in the bullion market in Delhi fell by a big drop of 505 rupees. In the capital Delhi (Delhi), the price of gold of 99.9 grams purity has now reached Rs 46,518 per 10 grams. During the last trading session, gold had closed at Rs 47,023 per 10 grams in Delhi Bullion Market.
In the international market, the price of gold has come down to $ 1,769 an ounce. Apart from this, before the meeting of the US Federal Open Market Committee (FOMC), there was pressure on gold prices due to the improvement in the dollar. This is the reason why there was a sharp decline in gold in the Indian market.
Silver prices also fall
Silver prices also saw a downward trend today. On Wednesday, silver prices fell by Rs 828 to Rs 67,312 per kg in Delhi Bullion Market. Earlier, silver had closed at Rs 68,140 per kg. In the international market, silver was at $ 26.02 an ounce. There was not much difference in silver.
Price fell after two days of steady
HDFC Securities Senior Analyst (Commodities) Tapan Patel says that gold prices remained steady for the first 2 days of the week. The US Yield recorded an increase on Tuesday. Due to this, the prices of gold also declined in the international market. This has also affected the Indian markets.
Gold prices decreased in futures market too
Due to weak demand, traders reduced the deals. As a result, the price of gold in futures market fell by Rs 352 to Rs 46,951 per 10 grams. At the Multi Commodity Exchange, gold for delivery in the month of June fell by Rs 352, or 0.74 per cent, to Rs 46,951 per 10 grams.
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