the last days Since then there has been a continuation of the rise in the price of gold and silver. However, now once again the prices of these two precious metals have started to decline. Due to a weak global trend, gold prices fell by Rs 574 to Rs 57,155 per 10 grams on Monday on the gold bullion market in the national capital Delhi. In the previous trading session, gold had closed at Rs 57,729 per 10 grams. Silver also declined by Rs 2,113 to close at Rs 68,133 per kg.
sharp drop in world economy
In foreign markets, gold prices fell to $1,875 an ounce, while silver traded lower to $23.48 an ounce. Navneet Damani, senior vice president of commodity research at Motilal Oswal Financial Services, said investors would also be watching the Reserve Bank’s Monetary Policy Committee meeting and the US Federal Reserve chief’s speech. , Jerome Powell, this week.
Spot demand on the rise
Gold prices rose by Rs 402 to Rs 56,987 per 10 grams in futures trading on Monday, as speculators built up new positions due to strong demand in the spot market. On the Multi Commodity Exchange, April delivery contracts rose Rs 402, or 0.71%, to Rs 56,987 per 10 grams. There was a turnover of 17,353 lots. Market analysts said that the new positions created by traders mainly influenced the rise in gold futures prices. Globally, gold rose 0.61 percent to $1,888.10 an ounce in New York.
latest business news