The dollar index has been hit by a slight increase in gold prices and once again there has been a huge shock. Due to this, silver prices have also dropped. Gold prices have dropped by Rs 400 in the country's capital, Delhi, while on the other hand, silver prices have dropped by Rs 1,500. What is special is that in two days, gold has gone up to Rs 900 and silver at Rs 2,500. According to experts, the prices of gold and silver may decrease further.
On the one hand, there are signs of global geo-political and tariff stress decrease. On the other hand, the dollar index is witnessing a surge. In the coming days, gold prices may be higher. According to experts, the Fed may reduce interest rates by 25 basis points in September. This will reduce pressure on gold prices and increase prices. Let us also tell you how much gold prices have increased in the country's capital, Delhi.
According to the All India Sarafa Sangh, the price of gold in the country's capital, Delhi on Wednesday, fell by Rs 400 to Rs 1,00,020 per 10 grams. At the time of the last market closed, gold with 99.9 per cent purity closed at Rs 1,00,420 per 10 grams. Gold prices have seen a decline for the second consecutive day. In these two days, gold has been cheaper at Rs 900 per ten grams. In addition, gold with 99.5 per cent purity on Wednesday fell by Rs 350 to Rs 99,700 per 10 grams (including all taxes). On Tuesday, it closed at Rs 1,00,050 per 10 grams. In addition, silver fell by Rs 1,500 to Rs 1,12,500 per kg (including all taxes) on Wednesday. On Tuesday, the white metal closed at Rs 1,14,000 per kg. Silver prices have dropped by Rs 2,500 per kg in two days.
Gold prices continued to decline on Wednesday as the US dollar rose marginally at a one -week high. The positive results of the meetings with President Donald Trump's Vladimir Putin, Wolodimir Zelensky and European leaders were reduced to the political risk premium. HDFC Securities Senior Analyst (Commodities) Soumil Gandhi said there was hope for a potential solution to the ongoing conflict, which seems to be the main cause of gold prices in recent days. In foreign markets, spot gold increased slightly at $ 3,326.04 per ounce. Gold prices rose to a three -week low due to the dollar, while investors were waiting for the final speech of US Federal Reserve Chairman Jerome Powell at the Jackson Hall Symposium on Friday.
Meanwhile, the US dollar index reached the highest level of more than a week and the dollar/rupee rose to 87 levels, which led to higher pressure on the domestic price, said Manjit Metil Metals Research Analyst at Motilal Oswal Financial Services. However, spot silver in the global market was down by about 1 percent to $ 37.07 per ounce. Modi said that investors would keep an eye on the details of the Federal Reserve meeting, which will be announced later, which is expected to provide more information about the central bank's monetary policy trend and the direction of bullion price.
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