Gold Price Today: Gold has weakened by about 1% in the domestic market and gold is seeing a decline of Rs 2,000 from its record high.
Gold Price Today: Gold and silver prices have started declining from their record highs. Bullion prices fell for the second consecutive day on Friday amid tariff war. Gold has weakened by about 1% in the domestic market and gold is seeing a decline of Rs 2,000 from its record high. The price in the global market is above $3,110, which is $90 below its record high. The decline was due to fears of a slowdown in the US economy. Now many countries including China and Canada can impose retaliatory tariffs on the US. Now there is concern about rising inflation at the global level.
Silver at 1-month low
Silver is also seeing a big decline and has reached a 1-month low. Today it fell by about 2% to around 94,500 on MCX. Silver had fallen by 7% in 2 days in the domestic market. It has become cheaper by about 7,000 in 2 days and has become cheaper by more than Rs 8,000 from its high. There has been a decline of more than 1% in the global market. COMEX silver is trading near $31.
If we talk about MCX, then around 10 am, gold futures were trading at Rs 89,790 per 10 grams with a gain of Rs 27. Which closed at Rs 89,817 yesterday. Silver fell by Rs 1317 to Rs 93,082 per kg during this period. It closed at Rs 94,399 yesterday.
Gold at new high in bullion market
Amid continuous buying by jewelers and stockists, the price of gold in the bullion market of the national capital rose by Rs 200 to a new record level of Rs 94,350 per 10 grams. On Wednesday, gold of 99.9 percent purity remained stable at Rs 94,150 per 10 grams. Gold of 99.5 percent purity rose by Rs 200 to an all-time high of Rs 93,900 per 10 grams. However, the price of silver fell by Rs 1,000 to Rs 1,00,500 per kg from Wednesday’s closing level of Rs 1,01,500 per kg. Jatin Trivedi, Vice President Research Analyst Commodity and Currency at LKP Securities, said, “Gold saw an initial rise in the morning session due to the effect of retaliatory duty, but soon the phase of profit booking started in the prices. ”
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